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Effect of globalization in India.

Effect of globalisation

globalization It has not had the same effect everywhere or on all classes. In other words it is not beneficial for everyone. It has had a favorable effect on some sections and sectors. Whereas some sections and sectors have also had adverse and harmful effects. Many people have been deprived of the benefits of globalization.

Impact of Globalization in India

We can explain the above statement under the following points.

(a) favorable effect

1. Impact on Producers

between local and foreign producers Competition is big. This has benefited the wealthy class consumers of urban areas. They have started getting good quality items at affordable prices. As a result their standard of living has also increased.

2. Impact on Investors

Investing in India has been profitable for MNCs. Investment in various industries and services of local and wow investors has increased. New employment opportunities have been created in these industries and services. Apart from this, local companies supplying these industries have also prospered.

3. Impact on Indian Companies

Many top Indian companies benefited from the increased competition. These companies invested in the latest technology and production systems that raised their production standards. Some companies made profits by successfully collaborating with foreign companies. Second, globalization enabled some large Indian companies to emerge as multinationals.

(b) adverse effect

The following are the adverse effects of globalization on various sections.

  1. Small manufacturers have been hit hard due to competition. Stories of arrival have stopped and a large number of workers have become unemployed.
  2. Most of the employers have started adopting the policy of flexibility in giving employment to the workers. This has not ensured and secured the employment of the workers.
  3. The working condition in the organized sector, if from where it was, is becoming like that of the organized sector.
  4. The appointed ashrams are constantly trying to cut costs.

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read more – Measures to remove poverty in India?

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