Globalisation and the indian economy in English full information

Today consumer have a wide choise of good and service. The latest models of digital camera, mobile phones and television made by the leading manufacturing of the world are within our reach. Every season, new models of automobile are launched on Indian roads.

Gone are the day when ambassador and fiat were the only cars on indian roads. Today, Indians are buying cars produced by nearly all the top companies in the world. A similar explosion of brands can be seen for many other goods. From shirt to television to processed fruit juice.

Such wide ranging choice of goods in our market in a relatively recent phenomenal. It was not possible for us to find such a wide variety of goods in indian market even two decades back.

Production across countries

Unit the middle of the twentieth century, production we largely organized within countries. Only raw materials, food stuff and finished product crossed the boundaries of these countries.

Before independent india exported raw materials and foods stuff and imported finished goods. Trade was the main channel that connection distant countries. This was before large companies called multinational corporation (MNCs) emerged on the scene.

A MNC is a company that owns or control production in more than one nation. MNCs set up office and factorir for production in those region where they can get cheap labour and other resources. This is done so that the cost of production is low and the MNCs can earn greater profit.

Factor that have enabled globalisation

One of the major factor that has stimulate the globalisation process is the rapid improvement in technology. Even more noticeable have been the development in information and communication technology.

In recent times, technology in the fields of telecommunications, computer, Internet has been changing rapidly. Telecommunications facilites such world, to access information instantly, and to communicate from remote areas. This has been facilities by satellite communication device.

As you would be aware, computer have now entered almost every field of activity. You might have also ventured into the amazing world of Internet, where you can get and share information on almost anything you want to knows. Though Internet we can be send instant electronic mail and can talk across the world at negligible costs.

Impact of globalisation in india

The start of globalisation, the indian. Economy has come a long way. Globalisation and greater competition among producer both local and foreign producers have been of advantage to consumer, particular the well off section in the urban areas.

There is greater choise. Now for these consumers they now enjoy improved quality and lower prices for serval products. The impact of globalisation among producers and workers has not been uniform. Firstly, MNCs have significantly increased their investment in india over the past 15 years, which means invest in india has been more beneficial for them.

MNCs have been more interested in secondly, many of the top indian companies have been able to benefit from the increase competition. They raised their production standard by investing in newer technology and production methods. Some have gained from successful collaboration with foreign companies.

Also globalisation has enabled some large indian companies to emerge as multinational themselves. Tats motor (automobile), infosys(it) etc. Indian companies which are now expanding their operation world wide.

Globalisation has also created new opportunities for companies that provide service, particularly those involving IT. The indian company which produces a magazine for the london based company and call centers are some example in additional to that a host of service such as data entry, accounting, administrative tasks, engineering are now being done cheaply in countries such as india and are exported to the developed countries.

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