Question

Analyse the impact of Globalisation in India.

Answer 1

1. MNCs have increased their investments in India over the past 20 years, which means investing in India has been beneficial for them. MNCs have been interested in industries such as cell phones, automobiles, electronics, soft drinks, fast food or services such as banking in urban areas.
2. In these industries and services, new jobs have been created. Also, local companies supplying raw materials, etc. to these industries have prospered.
3. Several of the top Indian companies have been able to benefit from the increased competition. They have invested in newer technology and production methods and raised their production standards.
4. Globalisation has enabled some large Indian companies to emerge as multinationals themselves! Tata Motors (automobiles), Infosys (IT), Ranbaxy (medicines), Asian Paints (paints), Sundaram Fasteners (nuts and bolts) are some Indian companies which are spreading their operations worldwide.
5. Globalisation has also created new opportunities for companies providing services, particularly those involving IT. The Indian company producing a magazine for the London based company and call centres are some examples.