Economics

Globalisation and the Indian Economy

Question:

“The impact of globalisation has not been uniform.” Explain this statement.

Answer:

The impact of globalisation has not been uniform. Globalisation has 2 sides – the positive and the negative.
On one hand we have people with education, skill and wealth who have benefited from globalisation, on the other hand, there are the uneducated, less skilled people who have not benefited from it.
If a balance has to be brought about we should strive towards fair globalisation. The government can play a major role in ensuring that the fruits of globalisation reaches everyone, the educated and the uneducated , equally. Its policies must protect the interests, not only of the rich and the powerful, but all the people in the country.
The Indian Government should ensure that …
• Labour laws are properly implemented and the workers get their rights.
• The government should support small producers to improve their performance till the time they become strong enough to compete.
• If necessary, the government should use trade and investment barriers the protect small producers.
• The government should negotiate at the WTO for ˜fairer rules'.
• It can also align with other developing countries with similar interests to fight against the domination of developed countries in the WTO.
Massive campaigns and representation by people's organisations have influenced important decisions relating to trade and investments at the WTO. This has demonstrated that people also can play an important role in the struggle for fair globalisation.

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Globalisation and the Indian Economy

Q 1.

Write a short note on WTO.

Q 2.

What are the positive impacts of globalisation in India ?

Q 3.

What do you understand by globalisation? Explain in your own words.

Q 4.

How would flexibility in labour laws help companies?

Q 5.

What are the factors that have enabled globalisation?

Q 6.

IT in globalisation  Discuss.

Q 7.

Differentiate between a ˜permanent worker ' and a ˜temporary worker'.

Q 8.

Mention a few negative impacts of globalisation in India.

Q 9.

What are the various ways in which MNCs set up, or control, production in other countries?

Q 10.

What are the factors that have enabled globalisation ?

Q 11.

What are the positive impacts of globalisation in India?

Q 12.

How has liberalisation of trade and investment policies helped the globalisation process?

Q 13.

Mention a few negative impacts of globalisation in India.

Q 14.

Write a short note on MNCs with an example.

Q 15.

“The impact of globalisation has not been uniform.” Explain this statement.

Q 16.

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?

Q 17.

IT in globalisation “ Discuss.

Q 18.

Why do developed countries want developing countries to liberalise their trade and investment? What do you think should the developing countries demand in return?

Q 19.

How does foreign trade lead to integration of markets across countries? Explain with an example other than those given here.

Q 20.

What is meant by interlinking production across countries?