Mention a few negative impacts of globalisation in India.
There has also been a negative impact of globalisation in India. Globalisation has posed major challenges to a large number of small producers.
Globalisation which resulted from liberalisation of Foreign Trade policies allowed the import of electronic goods at a very cheap cost. Local producers of electronic goods were not able to meet with this challenge. MNCs flooded the market with quality products at a cheap price. Local producer were not able to compete with this and were put to hardship as their goods do not have a market.
Another negative factor to globalisation is the lower wages that are given to labourers. In order to compete in the world market, exporters try and cut labour costs and workers are denied their fair share of benefits as manufacturers are always on the look out for cheaper labour .
What are the various ways in which MNCs set up, or control, production in other countries?
How has liberalisation of trade and investment policies helped the globalisation process?
What was the reasons for putting barriers to foreign trade and foreign investment by the Indian government? Why did it wish to remove these barriers?
Why do developed countries want developing countries to liberalise their trade and investment? What do you think should the developing countries demand in return?
How does foreign trade lead to integration of markets across countries? Explain with an example other than those given here.