Scribd
Upload
7 views10 pages

Presented By-: Mohd. Saquib Khan Mohammad Razique

Globalization refers to the increasing interconnection of world economies, cultures, and people through trade and communication. In India, globalization began in the 1990s with economic liberalization that opened India's markets. This led to rapid economic growth, with India now ranking as the 4th largest economy by purchasing power. While globalization has benefits like increased trade and economic opportunities, it also has drawbacks such as job losses from outsourcing and increased inequality between rich and poor. Both opportunities and challenges exist from the increasing global interconnection of markets and cultures.

Uploaded by

Md.Saquib Khan
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
7 views10 pages

Presented By-: Mohd. Saquib Khan Mohammad Razique

Globalization refers to the increasing interconnection of world economies, cultures, and people through trade and communication. In India, globalization began in the 1990s with economic liberalization that opened India's markets. This led to rapid economic growth, with India now ranking as the 4th largest economy by purchasing power. While globalization has benefits like increased trade and economic opportunities, it also has drawbacks such as job losses from outsourcing and increased inequality between rich and poor. Both opportunities and challenges exist from the increasing global interconnection of markets and cultures.

Uploaded by

Md.Saquib Khan
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

Presented by- Mohd.

Saquib Khan
Mohammad Razique
Definition of Globalization
• Globalization is the tendency
of businesses, technologies, or
philosophies to spread throughout
the world, or the process of making
this happen.
• There is intermingling and blend of
various cultures, traditions and
thoughts and interchange of ideas.
• The business and trade links between
various countries across the globe.
Globalization and market changes in India

• Prior to Liberalization –
Problems in the Balance of
Payment
• In 1990s government initiated
the open market and economic
liberalization plan.
• State owned market change to
Consumer market
• There was an increase in
demand and supply
Contd…….
• Today, India is one of the largest growing
economies in the world and ranks as the 4th
largest in terms of the purchasing power
parity (PPP). In terms of the market exchange,
it ranks as the 12th largest economy in the
world. The country has also enjoyed a
significant growth in the Gross Domestic
Product (GDP) due to the improvement in the
market and the increase in exports.
Globalization Trends
• The Linkage of Nation’s economies into one vibrant,
prosperous, interconnected global network economy is the
endgame of Globalization.
• Globalization promises to increase global trade, increased
quality of life, and individual prosperity.
• Innovation- based technologies such as internet, biotech,
nanotech and wireless communications will enable global
trade, open markets, and free enterprise.
• Globalization will increase cross-culture understanding,
breaking down barriers among people of different nations as
trade alliances grow across borders.
Pros And Cons of Globalization
Pros
• There is a worldwide market for
the companies and for the
people there is more access to
products of different countries.
• There is a steady cash flow into
the developing countries, which
gradually decrease the dollar
difference.
• Due to the presence of a worldwide market, there is
on increase in the production sector and there are
lots of options for the companies now.
Contd….
• Globalization has created the concept of outsourcing.
Work such as software development, customer
support, marketing, accounting and insurance is
outsourced to developing countries like India.
• Increased competition forces companies to lower
prices. This benefits the end consumers
• Increased media coverage draws the attention of the
world to human right violations. This leads to
improvement in human rights.
Cons
• Developed nations have outsourced
manufacturing and white collar jobs.
Programmers, editors, scientists and
accountants have lost their jobs due to
outsourcing to cheaper locations like
India
• Globalization has led to exploitation of labor.
• Job insecurity
• Terrorists have access to sophisticated
weapons enhancing their ability to inflict
damage.
•Companies have set up industries causing pollution in countries with
poor regulation of pollution.
Contd….
• The benefits of globalization is not universal.
The rich are getting richer and the poor are
becoming poorer.
• Bad apects of foreign cultures are affecting the
local cultures through TV and the Internet.
• Local industries are being taken over by
foreign multinationals.
Thanks

You might also like