There is a significant development in transportation, communication and information technology in the past decades.
1. The improvement in information and communication has enabled faster communication through the internet.
2. Messages can be received and sent to all parts of the world in a fraction of a second.
3. Improvement in transport has helped the export and import of goods at a faster rate.
4. Money can be transferred very easily through online banking facilities.
Thus, it can be rightly said that the improvement in technology and transport has stimulated the process of
The impact of Globalisation on India can be well understood from the following:
1. Globalisation has created heavy competition among the companies.
2. Many companies such as Tata Motors, Ranbaxy have emerged as MultiNational Companies.
3. Globalisation has created a lot of employment opportunities.
4. Business Process Outsourcing, Knowledge Process Outsourcing, data entry etc., have become the major source of income for many educated youths.
5. There is a significant increase in FDI(Foreign Direct Investment).
Globalisation has thus created a positive impact on the Indian economy.
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