Globalisation
1. Concept of Globalisation
1. Globalisation means closer connection among countries.
2. Goods move freely from one country to another.
3. Services are exchanged globally.
4. Ideas spread across the world quickly.
5. Capital moves between countries.
6. People migrate for better opportunities.
7. Technology connects different nations.
8. The world becomes more interconnected.
2. Causes of Globalisation
1. Technological advancement increased global links.
2. Better communication systems developed.
3. Faster transport connected countries.
4. Emergence of free markets encouraged trade.
5. Liberalisation reduced trade barriers.
6. Privatization promoted private businesses.
7. Commercialization increased global business activities.
8. Growth of multinational companies expanded trade.
3. Political Consequences of Globalisation
1. Sovereignty of nations is affected.
2. Governments have less economic control.
3. International organisations influence policies.
4. Welfare role of the state decreases.
5. Decision-making becomes globally connected.
6. Countries cooperate on international issues.
7. Technology helps governments collect information.
8. Political awareness spreads through media and internet.
4. Economic Consequences of Globalisation
1. International trade has increased.
2. Foreign investments have grown.
3. Multinational companies expanded worldwide.
4. Domestic industries face global competition.
5. Cottage industries suffered losses.
6. Markets became centralised.
7. Consumer choices increased.
8. Poor countries often face economic challenges.
5. Cultural Consequences of Globalisation
1. Different cultures interact globally.
2. Western culture spreads rapidly.
3. Traditional culture loses importance.
4. A uniform culture develops worldwide.
5. Food and fashion become global.
6. Media influences people’s lifestyle.
7. Languages and customs are affected.
8. Globalisation shapes thoughts and desires.
6. Criticism Against Globalisation
1. It promotes westernisation.
2. Uniform culture threatens local traditions.
3. Cottage industries are ruined.
4. Domestic products lose importance.
5. Economic inequality increases.
6. Farmers and peasants suffer losses.
7. Small businesses cannot compete globally.
8. Traditional values become weaker.
7. India and Globalisation
1. India exported raw materials during colonial rule.
2. India imported finished goods from Britain.
3. After independence India followed protectionism.
4. Imports were restricted to protect industries.
5. India focused on self-reliance.
6. Economic growth remained slow for some time.
7. Health and education sectors were neglected.
8. In 1991 India adopted LPG reforms – Liberalisation, Privatisation and Globalisation.
---------------------------------------------------------------------------------------------------------------------------------------------------
Why India is Resisting Against Globalization?
Foreign companies create tough competition for local industries.
Small scale and cottage industries suffer losses.
Farmers face problems due to imported goods.
Traditional culture and values are getting affected.
Western culture is influencing Indian lifestyle.
Economic inequality between rich and poor is increasing.
Workers may lose jobs because of mechanisation and foreign competition.
India wants to protect its domestic industries and economy.
---------------------------------------------------------------------------------------------------------------------------------------------------
Positive Impact of Globalisation
Increase in international trade.
Better technology and modern facilities.
More employment opportunities.
Growth of multinational companies.
Consumers get more choices of goods.
Improvement in communication and transport.
Foreign investment increases economic growth.
Better exchange of ideas and knowledge.
-------------------------------------------------------------------------------------------------------------------------------------------------
Negative Impact of Globalisation
[Link] industries face heavy competition.
[Link] culture gets affected.
[Link] inequality increases.
[Link] and workers may suffer losses.
[Link] on foreign countries increases.
[Link] pollution increases.
[Link] culture influences local traditions.
[Link] rises in some sectors.
--------------------------------------------------------------------------------------------------------------------------------------------------
Role of Technology in Globalization
[Link] has connected the world faster.
[Link] helps in quick communication.
[Link] phones make global contact easy.
[Link] transport increases international trade.
[Link] banking supports global business.
[Link] media spreads ideas worldwide.
[Link] helps multinational companies expand.
[Link] can be shared instantly across countries.