How has globalisation affected the Indian economy? Discuss.

Question

11 Sep 2024

Answer :

Word Count : 600

Globalisation, a process of increasing interconnectedness and interdependence among countries through trade, investment, technology, and culture, has significantly impacted the Indian economy. This essay examines the multifaceted effects of globalisation on India, highlighting both the positive and negative dimensions.

Positive Effects of Globalisation

1. Economic Growth and Development:
Globalisation has played a crucial role in accelerating India’s economic growth. The liberalisation policies introduced in the early 1990s marked a turning point, leading to a surge in foreign direct investment (FDI) and trade. The influx of FDI has provided capital, technology, and management expertise, fueling the expansion of industries such as information technology (IT), telecommunications, and pharmaceuticals. As a result, India has witnessed significant economic growth, with its GDP ________ _____ __________ ____ _____.
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