CBSE Class 10 Answered

Globalisation is the integration of the economy of a country with the world economy. It aims to encourage foreign trade and private and institutional foreign investment. It creates various policies which try to turn the world into one.

• Increased investments in Indian markets by MNCs have led to the growth of the Indian economy. 
• Local companies supplying raw materials to MNCs have developed and prospered. Many Indian companies such as Tata Motors and Ranbaxy have become multinational companies themselves.
• It has opened many new opportunities for companies in the service sector, especially IT companies. 
• Technology has been transferred to developing countries. It has enabled the production of quality goods in the international market.