What is Globalisation?
It means Integration of Country's economy with World's economy.
Important Points of Globalisation
Globalisation means following set of policies which lead to:
1 Greater interdependence and integration of world
2 Happenings In India are Influenced by happening far away
3 Various Economic ,Social Geoghraphical boundaries are broken
4 World becomes borderless (Different countries of world become one whole)
Outcomes of Globalisation - Examples
Example 1
Earlier, we used to purchase goods and services within India
But now due to globalisation, we are free to buy goods and services from outside India also
Example 2
Due to Globalisation, Foreign MNC are free to set up business in India and earn profit
This has led to job opportunities for millions of people
Example 3
Due to Globalisation, Foreign Companies outsource their work to India
This has led to new outsourcing business set up in India as well as jobs to India'a people
MCQ Other Books
Question 1
In the following questions, select the correct answers:
_____ means integrating the domestic economy with the world economy.
- Globalisation
- Liberalisation
- Disinvestment
- Privatisation
A. Globalisation
Globalisation means Integration of Country's economy with World's economy.
Important Points of Globalisation
Globalisation means following set of policies which lead to:
- Greater interdependence and integration of world
- Happenings In India are Influenced by happening far away
- Various Economic ,Social Geoghraphical boundaries are broken
- World becomes borderless (Different countries of world become one whole)
