What are the effects of globalisation in the context of India?

Globalisation refers to the integration of markets, economies, and cultures across the world. In recent decades, the process of globalisation has accelerated, and its effects have been felt in various parts of the world, including India. The impact of globalisation on India has been both positive and negative, and it has affected various sectors of the Indian economy and society.

One of the significant effects of globalisation on India has been the opening up of the Indian economy to the world. In the early 1990s, India adopted a policy of liberalisation, privatisation and globalisation which led to the opening up of the Indian market to foreign investment and trade. This policy shift helped India to integrate with the global economy, and it resulted in an increase in foreign investment, exports, and imports. As a result, India's GDP grew at an average rate of 7.5% per year from 1994 to 2014.

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