What is meant by globalisation? Briefly summarise the opportunities and challenges posed by globalisation to the Indian industrial sector

Globalization refers to the interconnectedness and interdependence of economies, cultures, societies, and nations across the world, facilitated by advancements in technology, communication, and transportation. It involves the movement of goods, services, information, people, and ideas across borders, leading to increased international trade, investment, and cultural exchange. Globalization has both opportunities and challenges for the Indian industrial sector, which has experienced significant impacts as a result.

Opportunities:

1. Increased Market Access: Globalization opens up new markets for Indian industrial products and services. Indian businesses can access a larger customer base beyond domestic boundaries, enabling them to expand and grow.

2. Foreign Direct Investment (FDI): Globalization attracts foreign investment into India, which contributes to the ________ ____ _____ ___ _____.
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