Effects of Globalization on Indian Economy

Question

What do you mean by globalization and its effects on the Indian economy?

Answer 1

Globalization has brought many employments and large sums of investment in India. India's economy has been growing at exceptional rates for the past several years and many new opportunities have opened up for India. India does remain quite poor. Its GDP per capita is less than $2,000, a fraction of the GDP per capita found in some Latin American & Eastern European countries. Among upper classes most of them gives profit from globalization in India, with many in the lower classes being displaced and suffering from depressed labor conditions. However, globalization has created a large economic boom for India with largely positive effects Define economics on the welfare and scaruty of resources. Economics need to be studied to see where the economy is going, what can be added in order to improve it or what can be removed from the economy.

Economics is one of the basic fundamentals of business and if studied carefully, one can do very well business if all the right moves are made.