liberalisation and globalisation of Indian economy. Greenery is almost lost due to the upbringing of globalization. Over the years there has been a steady liberalization of the current account transactions, more and more sectors opened up for foreign direct investments and portfolio investments facilitating entry of foreign investors in telecom, roads ports, airports, insurance and other major sectors. Death due to famines also lessened because of ease of transportation of food grains. Over the same period Chinas share has tripled to almost. Growth rates have slowed down since the country has still be able to achieve 5-6 growth rate in three of the last six years. If the economy of one country fall in danger, other countries also feel the pain. The global economy experienced an overall deceleration and recorded an output growth.4 during the past year growth in real GDP in 2001-02 was.4 as per the Economic Survey in 200-01. Over the past decade FDI flows into India have averaged around.5 of GDP against 5 for China.5 for Brazil. Despite all the talk, we are now where ever close being globalized in terms of any commonly used indicator of globalization. People get the opportunity to exchange ideas and adopt better means of living.
After many years, globalization has brought major revolution in the Indian market when multinational brands came to India like PepsiCo, KFC,. Short Essay on Globalization. Category: Essays, Paragraphs and Articles On September 10, 2015 By Team Work. Globalization : Advantages and Disadvantages of Globalization.
Liberalization of society, politics and economy came to be recognized as the necessity of the day. It collapsed as a state. 23 of which was contributed by the marine products alone. The recent technological inventions has brought down the cost of voice conferencing. Peak tariff rates are to be reduced to the minimum with a peak rate of 20 m in another 2 years most non- tariff barriers have been dismantled by March 2002, including almost all quantitative restrictions. Economic Globalization, in the present age of globalization, the economy of countries are inter-dependent. In many other countries, nationalisation of key industries and enterprises was undertaken with a view to provide goods and services to the people.
Railways, communication lines, transportations improved over time. India under trades by 70-80 given its size, proximity to markets and labour cost advantages. These reforms paved the way for initiating the process of liberalization and globalization of Indian economy. Words: 493 Pages: 2 Paragraphs: 8 Sentences: 29 Read Time: 01:47.
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