Q. 274.5( 2 Votes )

“Globalization ha

Answer :

Globalisation has been advantageous for consumers and producers:

1. Consumers now enjoy numerous choices as well as better quality since it is now an international market.

2. Competition between companies has lowered the prices on similar goods.

3. Numerous jobs have been created by the work of the MNCs and local companies collaborating with them also have earned huge profits.

4. Many domestic companies have improved technology and production methods due to competition from MNCs.

5. Some of the Indian companies have themselves become MNCs themselves like Tata Motors, Infosys, and Ranbaxy.

Explanation: Globalisation has had numerous effects in many ways but has mainly benefitted the economy as a whole, specifically the industrial sector.

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