Globalisation

Globalisation is the process of integrating the countries economy with the world economy. It allows freedom to trade between the countries. Globalisation creates the relationship between the countries and it ensures cooperativeness among the countries.

Objective of Globalisation



 The main objective behind globalization is to create international relations for the countries and providing better markets for trading. We can freely trade where we will get a better market for our products. The process is Following by certain rules and regulations for international trade. 

Advantages of Globalisation

Globalisation offers countries to FDI, through Foreign Direct Investment educated unemployees will get employment opportunities.  Countries to attract foreign investment have created SEZs. Special Economic Zones ensures better infrastructures and better resources to establish industries and create more employment.  The services like IT, Banking, Legal, and BPO most of the companies are running with outsourcing. Those companies create employment also.  

How Globalisation impacts in India. 

When analyzing this process mostly the developed countries are benefited through globalization. Most of the underdeveloped countries are adversely affected by the Globalisation. The developed countries can be produced and manufactured goods at the cheapest cost at the same time developing countries and underdeveloped are unable to produce the goods at the same cost. When we discuss India, Most of the peoples are depending on agriculture and allied activities. Indian producers are unable to face foreign countries' competition because those goods are available for a cheap cost. for example, Indian Handicrafts, toys, clothes, furniture like and other things are expensive but foreign countries like China are producing the same things at a cheap rate. When it comes to international markets the WTO and other organizations unable to offer Indian products because the price of the goods is high compared to other countries. They have abjected for quality standards of international markets. we have to realize how china dominates the Indian market. Today in the Indian market also most of the things are produced by China and foreign countries. If we encourage domestic products definitely India's GDP will be increased. But every consumer has to prefer things which will be available at a cheap price. Before purchasing any products consumers will compare the price from another seller. For example, a watch of Indian brand is Rs 500/- But in the same shop foreign company with the same features price 300/-  here the customer absolutely goes to prefer Rs 300/- price watch. As the result, the shop owner also prefers to purchase foreign company products as customer demand. 

The government has to take initiative for the encouragement of local producers at the same to consumers also.