Scribd Logo
Upload

Welcome to Scribd!

  • 5 views

    Globalissation Class Notes All Grade From 6 To 10

    Uploaded by

    muhammedshaihan59

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Globalissation Class Notes All Grade From 6 To 10

    Uploaded by

    muhammedshaihan59
    5 views2 pages

    Original Title

    globalissation class notes all grade from 6 to 10

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    5 views2 pages

    Globalissation Class Notes All Grade From 6 To 10

    Uploaded by

    muhammedshaihan59

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Globalization and the Indian Economy

    1. What is Globalization?

    Definition: Globalization is the process by which businesses, cultures, and economies of the world
    become interconnected and interdependent.

    It facilitates the exchange of goods, services, information, and people across countries, leading to a more
    integrated global economy.

    2. Factors Enabling Globalization

    Technological Advancements: Innovations in transportation and communication, such as faster shipping,


    the internet, and mobile networks, have made international trade and communication easier and
    quicker.

    Liberalization of Trade: Many countries, including India, have adopted policies to reduce tariffs, taxes,
    and trade barriers, promoting foreign trade and investment.

    Foreign Investment and Multinational Corporations (MNCs): MNCs set up operations in various countries
    to reduce production costs and access larger markets. This has led to the growth of international supply
    chains and job creation in host countries.

    3. Impact of Globalization on India

    Economic Growth: Globalization has contributed to India’s economic growth, with increases in GDP,
    exports, and the expansion of sectors such as IT and manufacturing.

    Employment: It has generated employment opportunities in industries like textiles, electronics, and
    services, improving the standard of living for many.

    Consumer Choices: Increased availability of foreign goods has broadened choices for consumers and
    lowered prices in many sectors.

    Technology and Skills: Exposure to global markets has encouraged the transfer of technology and skills to
    Indian industries.

    4. Positive and Negative Effects of Globalization

    Positive Effects:

    Boosts economic development, increases job opportunities, enhances technology transfer, and
    encourages competition, leading to better quality products and services.

    Negative Effects:

    Globalization has widened the gap between rich and poor. Small-scale and local industries often struggle
    to compete with MNCs, leading to job losses and reduced market share.

    Environmental issues and exploitation of natural resources have also become concerns due to large-scale
    industrial activities.
    5. Role of Government Policies in Globalization

    Liberalization in 1991: India introduced economic reforms, including reducing trade barriers and
    encouraging foreign investments, which accelerated globalization in the country.

    Special Economic Zones (SEZs): The government developed SEZs to attract foreign companies by offering
    tax exemptions and better infrastructure, enhancing India’s integration with the global economy.

    6. Challenges of Globalization

    Balancing economic growth with equity is a challenge, as benefits are not always evenly distributed.

    Small and medium businesses struggle to compete with large MNCs, and workers in unorganized sectors
    often face instability.

    7. Towards a Fair Globalization

    Efforts should be made to ensure that the benefits of globalization are shared more equitably. This
    includes support for small industries, labor laws to protect workers, and sustainable practices to
    minimize environmental impacts.

    You might also like