Assistant Professor

Business Management,

H.N.B.Garhwal University (A Central University)

Tehri-Garhwal   Uttarakhand 

Abstract

Globalization involves exchange of culture, products and people among the nations. The government of India implemented globalization during 1990-91. Globalization is the extension of trade and investment all over the world. Varieties of products are available in various locations. There is competition in the qualities of products. Benefits of globalization in India can be seen from the employment opportunities generated in metro cities of India. Many Indians are also seen working in out of India and earn their livelihood. Large number of population can increase their standard of living through working in MNCs.

Keywords: Trade, investment, qualities and world.

Introduction

The Indian government adopted globalization during 1990-91. The government adopted it for further foreign exchange loans from World Bank. It provided both positive and negative impacts on Indian economic system. Globalization is the extension of trade and investment all over the globe.

Advantages of globalization

1. Globalization had a positive contribution on Indian economic system.

2. It helps in increasing GDP of the country.

3. It raised Foreign Direct Investment.

4. Wide varieties of goods at lower prices are available in the market.

5. Liberalized economy in order to integrate Indian economy with the world economy.

6. Quick process of mergers and acquisitions among the firms.

7. Cross border trade and investment.

8. Free and easy movement of people, goods and services round the globe.

9. Big firms in the west outsource works to companies of India.

10. Improved standard of living and higher purchasing power.

Disadvantages of globalization

1. It causes poor health, unacceptable working conditions.

2. Chance of dominating poor nations by economically strong countries.

3. Comparatively greater increase in imports than increase in exports.

4. Technological changes bring loss of jobs than employment opportunities in some developing countries.

5. Threat to village and small scale industries as they cannot compete with systematic multi-national companies.

6. Problem of inequality is shown in some underdeveloped and developing countries. Globalization reduces the process of poverty reduction in some cases. 

Globalization And Employment

When we talk about employment, we can see huge employment opportunities in metro cities of India in BPO and KPO. Many get employment in these multinational companies. Educated but unemployed youths of many states stayed in metro cities for getting employment in these multinational companies. Even ladies are working in night shifts to run their families. Much population who are educated might not be able to get their livelihood if there are no such MNCs. Here we can also highlight many Indians are working foreign countries. Even from small states of India educated youths stayed in foreign countries for earnings and lived there for long. Many foreigners visit several religious places of India as a tourists and the country could progress in tourism sector. People working in various fields went foreign countries to undergo their further research works and for attaining many career development programs. In globalization we can see trade, investment, foreign direct investment, capital flows, migration, and technology transfer; it leads to integration of  National economies with the international economy .
Conclusion
Globalization helps in increasing the trade volume of a nation. It also aids I n raising GDP of the nation. But it has several disadvantages. It is not possible village and small scale industries to compete with multinational companies.

Reference

https://www.researchgate.net/publication/264868906_  GLOBALIZATION_AND_GROWTH_IN_RECENT_RESEARCH

Kumar, N.P. (2013). “Globalization and its Impact on Indian Economy”. Innovare Journal of Business Management, 1 (3), 6-10.