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Question
Answer the following question.
How do we feel the impact of globalization on our daily life? Explain with examples.
Solution
Impact of globalization on our lives are given below :
Positive impact:
- MCSs have increased their investments in India. eg, industries like cell phones, automobiles, etc.
- New jobs were created
- The competition raised production standards
- Companies benefitted from increased competition
- Made collaborations and emerged men's
Negative impact:
- Small manufacturers have been hit hard due to foreign competition
- Educated and unskilled workers have become jobless due to closure of various units
- Globalization has a negative impact on most of the small industries which employ the largest number of workers after agriculture.
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