Globalisation has emerged as one of the most frequently used term of which there is no universally acceptable definition. Thus, globalisation means something which covers or relates the whole world instead of being confined to a particular country. With the development of modern science and technology, whole world has been closely united as a global village. What happens in one country has its impact on others.
Despite a surge in foreign investments, rigid FDI policies resulted in a significant hindrance. However, due to some positive economic reforms aimed at deregulating the economy and stimulating foreign investment, India has positioned itself as one of the front-runners of the rapidly growing Asia-Pacific region.
The size of the middle-class population stands at 50 million and represents a growing consumer market. Industrial policy reforms have substantially reduced industrial licensing requirements, removed restrictions on expansion and facilitated easy access to foreign technology and FDI. The upward moving growth curve of the real-estate sector owes some credit to a booming economy and liberalised FDI regime.
In Marchthe government amended the rules to allow per cent FDI in the construction business. A number of changes were approved on the FDI policy to remove the caps in most sectors. Fields which require relaxation in FDI restrictions include civil aviation, construction development, industrial parks, petroleum and natural gas, commodity Effect of globalisation on india essay, credit-information services and mining.
But this still leaves an unfinished agenda of permitting greater foreign investment in politically sensitive areas such as insurance and retailing.
Positive and negative effects of globalization Globalization refers to the overall development as well as modernization of a community as a whole. The reason why globalization is important is because it helps a community in gaining international recognition, influence as well as operation. Short Essay on Globalization. Category: Essays, Paragraphs and Articles On September 10, Emergence of India as a service and IT leader. India has emerged as a major player of service and Information Technology (IT) industry. Many Indian IT, ITes, BPO and KPO companies have a worldwide presence. Many BPO services are provided from . Positive and negative effects of globalization Globalization refers to the overall development as well as modernization of a community as a whole. The reason why globalization is important is because it helps a community in gaining international recognition, influence as well as operation.
Remittances to India Remittances to India are money transfers from Indian workers employed outside the country to friends or relatives in India.
In, Indian remittances totaled 2.
As a result of this, more job opportunities are created for people. Technology has also influenced many firms to give their workers more freedom inworkplace. For instance, workers who perform non-routine tasks benefit more than workers who do not.
Netscape provided globalization through technology in three major ways. First, Netscape made it possible for the browser to display images from websites.
Second, the investment of billions in fiber-optic telecommunications influenced by the dot-com boom and the dot com bubble poured a great deal of hard currency into the Indian economy.
Last, the over-investment in technology made it cheaper by creating a global fiber networkwhich made it easier and faster to transmit data 5. One of the milestones in job opportunities was when thousands of Indian engineers were hired to fix the Y2K bug.
The job could have been given to many other companies, but it was outsourced to India. India was now seen in a different light, as being ready to join the workforce as well as able to compete against first-world countries for jobs.
The funds that should have been directed to the agriculture sector were directed to private-sector enterprises. For instance, growth in the agricultural sector dropped from 3.
This decline in growth has greatly affected farmers because production costs are very high, while commodity costs are low. This has resulted in overpeasant suicides since There is a food security crisis in India because a significant portion of the land has been designated to grow crops for biofuel.
Crops like rice and wheat are often harvested in large quantities. However, the amount of crops that are used for biofuel is largely unregulated, with an inadequate amount going to the poor and needy.
Women[ edit ] Technology has also increased access to education in India, especially to women. This has decreased the gap between men and women which was created by stratified gender roles.
It has also empowered women in two ways. Technology has influenced more women to pursue advanced degrees in computer science and engineering instead of their traditional degrees in social sciences and the humanities.
This has resulted in an increase in the number of women in competitive professions. Globalization expanded the need for higher education for both men and women.
This, in turn, has had a tremendous impact on the life of the single woman in India. The stigmatization and expectations on single women have decreased.Get custom essay sample written according to your requirements.
urgent 3h delivery guaranteed We will write a custom essay sample on The Effects of Globalization on India as well as Nigeria specifically for you for only $ $ The effect of globalization caused by that first export of oil and all the exports that have come since, has.
Short Essay on Globalization. Category: Essays, Paragraphs and Articles On September 10, Emergence of India as a service and IT leader. India has emerged as a major player of service and Information Technology (IT) industry. Many Indian IT, ITes, BPO and KPO companies have a worldwide presence.
Many BPO services are provided from . The Effect of Globalisation in Education Having looked at the brief categorization of globalisation in general, this section will focus on the effect of globalisation in education.
This section will look at commodification, internationalisation, citizenship and accessibility of . Therefore, globalisation may only add to the India’s woes. Conclusion: (Positive aspects): The biggest contribution of globalisation is in the field of quality and development of products with .
The adoption of the policy of globalisation in India has resulted initially the following mixed impacts on its economy: (i) Competition: As a result of globalisation, Indian companies started to face growing competition from free flow of products produced by multi-national companies (MNCs).
This paper will discuss the globalization of the nation state India and it’s social, economic, and environmental effects on the country.
India is a nation state located in the continent of Asia, bordering Pakistan, China and Nepal to name a few.