a. Globalization is a way to open business at the international level. It improves the technological growth at the international level. It is a way in which manufacturers and producers sell their products globally without any restriction. Globalization improves the economy at the international level.
b. The advantages of globalization are as follows:
- It provides huge profits to businessman as they get low cost labour in poor countries.
- It helps to consider the whole world as a single market.
- It provides big opportunities to companies to deal with the worldwide market.
d.The multinational brands entering the Indian market have started delivering a wide range of quality products at cheap prices in our markets.
e.Globalization brought about a major revolution in the Indian market when multinational brands came to India and started delivering a wide range of quality products at cheap prices. Prices of good quality products came down because of the cutthroat competition in the market.
f. The foreign products has flooded the market with quality goods but has affected the local Indian industries adversely to a great extent resulting in the job loss to poor and uneducated workers. Consumers have shifted towards these foreign goods and resulted in loss for local producers.
g.There has been a positive impact of globalization on the Indian students. Globalization has made available new and latest study books. It has led to the easy availability of information over the internet. Also it has encouraged collaboration with foreign universities.
h.Globalization has had a negative effect on the poor Indian farmers. Due to globalization, seeds which are disease resistant have become costlier. Also the agricultural technologies have witnessed a huge jump in prices.
i.The cottage industry has seen a boost in employment. Globalization has brought about a huge revolution for the cottage industries. It has led to the spreading of the cottage industries.
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