India and Positive Impact
Effects of globalization on Indian society
In simple terms globalization Is the process of growing interconnectedness between various parts of the world. It is a process through which diverse world is unified into a single society. Globalization touches almost all spheres of human life; social, economic, political, cultural, environmental.
Economic impact:
Positive Impact:
1. Trade with other countries tremendously increased. Exports and imports boomed due to opening up of trade markets.
2. Global food chain / restaurants
3. Liberalization of Indian markets for foreign players. This has increased the inflow of men, money, material, labour, technology etc from foreign countries to India.
4. Markets expanded. Many of the Indian industries have global markets and India serves as a market for many foreign companies
5. Globalization is responsible for the growth of many industries in India and especially software industry.
6. Growth of MNC’s
7. Globalization has given nations greater access to global markets, technology, financial resources and quality services and skilled human resources.
8. Improvement in and greater access to quality goods and services and an exponential increase in the volume of trade.
9. Access to global capital resources via the stock market and international debt depending on the economic potential of nations and their markets.
10. Access to technologies depending on the nations responsiveness to respect to protection of IPR and the responsible usage of technologies.
11. Access to the world markets to the skilled human resources from nations with inherent intellectual and technical capabilities (the outsourcing of IT, Pharma, BPO and KPO work).
12. Increase in exports of goods and services in which nations have their respective competencies.
13. Increased the purchasing capability of the nation through the creation of a sizeable middle class which is hungry for quality goods and services while there coexists a large poor
In simple terms globalization Is the process of growing interconnectedness between various parts of the world. It is a process through which diverse world is unified into a single society. Globalization touches almost all spheres of human life; social, economic, political, cultural, environmental.
Economic impact:
Positive Impact:
1. Trade with other countries tremendously increased. Exports and imports boomed due to opening up of trade markets.
2. Global food chain / restaurants
3. Liberalization of Indian markets for foreign players. This has increased the inflow of men, money, material, labour, technology etc from foreign countries to India.
4. Markets expanded. Many of the Indian industries have global markets and India serves as a market for many foreign companies
5. Globalization is responsible for the growth of many industries in India and especially software industry.
6. Growth of MNC’s
7. Globalization has given nations greater access to global markets, technology, financial resources and quality services and skilled human resources.
8. Improvement in and greater access to quality goods and services and an exponential increase in the volume of trade.
9. Access to global capital resources via the stock market and international debt depending on the economic potential of nations and their markets.
10. Access to technologies depending on the nations responsiveness to respect to protection of IPR and the responsible usage of technologies.
11. Access to the world markets to the skilled human resources from nations with inherent intellectual and technical capabilities (the outsourcing of IT, Pharma, BPO and KPO work).
12. Increase in exports of goods and services in which nations have their respective competencies.
13. Increased the purchasing capability of the nation through the creation of a sizeable middle class which is hungry for quality goods and services while there coexists a large poor
References: 1. www.daldrup.org/University 2. www.cpim.org/content/globalisation-impact-indian-society 3. http://www.academia.edu/964379/GLOBALISATION_AND_ITS_POSITIVE_IMPACT_ON_INDIAN_AGRICULTURE V.V.N Pavan Kumar