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Globalisation (Merits (1. Improved Standard of Living (As a result of…
Globalisation
Meaning
The process by which businesses or other organizations develop international influence or start operating on an international scale.
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Features
It stands for the freedom of the entrepreneurs to establish any industry or business venture, within their own countries &abroad
2.Economic Reforms
Encouraging fiscal and financial reforms with a view to give strength to free world trade, free enterprise,
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Merits
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3. Expansion of Market
eg;Indian companies like WIPRO,Infosys,TaTa Consulatncy are operating in many countries.
4.Increas in Employment
eg:many Indians are employed in foreign companies like mobile shop,insurance companies etc.
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Demerits
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2.Demonstration Effect
Demonstration effect has increased among the Indian Consumers,because of easy availability of foreign goods.
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5.Unemployment
Increased use of computers and automatic technology has considerably reduced the employment avenues in the Indian market