Please wait...
1800-212-7858 (Toll Free)
9:00am - 8:00pm IST all days
For Business Enquiry


Thanks, You will receive a call shortly.
Customer Support

You are very important to us

For any content/service related issues please contact on this toll free number


Mon to Sat - 11 AM to 8 PM

Evaluate the positive impacts of globalisation on the Indian economy.

Asked by Topperlearning User 17th February 2016, 11:34 AM
Answered by Expert

The positive impacts of globalisation on the Indian economy are as follows:

  1. Increased investments in Indian markets by the MNCs have led to the growth of the Indian economy. In many fields such as automobiles, cell phones, soft drinks, fast foods and garments, MNCs have created vast choice of products for the consumers.
  2. Local companies supplying raw materials to MNCs have developed and prospered. Many Indian companies such as Tata Motors and Ranbaxy themselves have become multinational companies themselves.
  3. Globalisation has opened many new opportunities for companies in the service sector, especially IT companies. These companies have offered their cheap but efficient consulting services to many nations. This has also created millions of jobs in India.
  4. Technology has been transferred to developing countries. It has enabled production of quality goods in the international market. During the post reform period, Indian export share in the international market has increased from 0.5% to 1%. Due to the flow of MNCs capital in foreign currency, the availability of foreign exchange increased to a great extent. Foreign investment has increased from US $ 6 billion in 1990-91 to US $ 125 billion in 2004-05.
  5. Outsourcing is the major outcome of the globalisation process. A company hires regular services mostly from outside the country or within the country like BPO or call centres, banking services, teaching, maintenance of accounts etc. Many multinational corporations are outsourcing their services to India at a cheaper rate with moderate accuracy. In the post reform period, India has provided global outsourcing with the availability of skilled manpower at low wage rates. In India, outsourcing has generated new employment opportunities which lead to a growth in the GDP and also increased the foreign reserve in our economy.
Answered by Expert 17th February 2016, 1:34 PM
Rate this answer
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

You have rated this answer /10

Your answer has been posted successfully!

Latest Questions

Maharashtra VIII Mathematics
Asked by mayurshivajimore 19th February 2019, 3:14 PM
Gujarat X English
Asked by Parmartapan68 19th February 2019, 3:13 PM
CBSE XII Science Physics
Asked by nandrammeena2 19th February 2019, 2:57 PM

Chat with us on WhatsApp