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Question
Write any two positive impact of Globalization.
Short Note
Solution
- A better economy introduces rapid development of the capital market
- Standard of living has increased
- Better trade, therefore more employment
- Introduction of new technologies
- New scientific research patterns.
- Increases GDP of a country
- Increase free flow of goods and
- Increase FDI – Foreign Direct Investment
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Impact and Challenges of Globalization
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Assertion (A): After 1991, there was a spurt of foreign collaborations in India and increase flow of FDI-Foreign Direct Investment.
Reason (R): The liberalized Foreign Investment Policy (FIP) was announced in India in July-August 1991.
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