Question

Describe The Impact Of Globalisation On Indian Economy With Examples

Answer 1

The impact of Globalisation on the Indian Economy are as follows:

• Over the past twenty years, there is an increase in foreign investments
• Creation of new jobs – Globalisation has created new jobs in order to reduce the unemployment rate to an extent
• A host of accounting, administrative tasks, data entry and engineering is now being done at a lesser cost in India.
• Creation of new opportunities – Globalisation has created new opportunities for Indian companies, mainly providing services for IT companies.
• The development of Indian companies as multinational- Several top Indian companies like Infosys, Ranbaxy Tata Motors, has been able to get benefit from the increased competition created as a result of Globalisation.