Supposing you find two people arguing: One is saying globalisation has hurt our country's development. The other is telling, globalisation is helping India develop. How would you respond to these organisations?
Benefits of globalisation of India :
→ Increase in the volume of trade in goods and services
→ Inflow of private foreign capital and export orientation of the economy.
→ Increases volume of output, income and employment.
Negative Impact / Fears of Globalisation.
→ It may not help in achieving sustainable growth.
→ It may lead to widening of income inequalities among various countries.
→ It may lead to aggravation of income inequalities within countries.
Whatever may be the fears of globalisation, I feel that it has now become a process which is catching the fancy of more and more nations. Hence we must become ready to accept globalisation with grace and also maximise economic gains from the world market.
