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Globalization (Impact of Globalisation (Positive, MNCs have increased…
Globalization
Market Transformation
The latest models of cars, phones, televisions, clothes, fruit juices etc available in India in the last 20 years
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Globalisation
Definition, Ford Car example
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Impact of Globalisation
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- MNCs have increased investment - more jobs, suppliers of raw materials have benefitted
- Top Indian companies have improved quality of products and become successful
- Indian companies have become MNCs - egs
- Well off buyers in urban areas have better choices and cheaper options
- New opportunities for companies providing services such as data entry, accounting, call centres ets
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- Small Producers have lost out in the competition. Eg:Ravi the capacitor manufacturer. Many such units shut down - loss of jobs
- Uncertain Employment or no job security. Eg: Garment worker Sushila
Fair Globalisation
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- It must implement labour laws so that workers rights are protected
- Support small producers till they are strong enough to compete with MNCs
- Can introduce trade and investment barriers if necessary
- Negotiate with WTO for fairer rules
- Join developing countries and fight against the domination of developed countries in WTO
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Massive campaigns by people's organisations have influenced decisions of WTO - people have an important role in fair globalisation