Globalisation is the expanding connection of individuals, states, or nations through the development of the worldwide stream of cash, thoughts, and culture. Globalization is principally a financial procedure of incorporation that has social and social viewpoints. It includes merchandise and ventures, and the financial assets of capital, innovation, and information. This morning a person can wake up and put on a polo shirt that reads ‘made in China’ on the inside tag. He would then go to a garage and get in a car that had parts that were manufactured Germany. He could drive that car to the supermarket where he buys cocoa beans from Ghana, sugar from Jamaica, and curry from India. These are all examples of Globalisation. Globalisation has both positive and negative effects. On an individual level, globalization affects both the standard of life and the quality of life. On a business level, globalization affects an organisation’s product life cycle and an organization’s balance sheet. Globalisation also affects how governments throughout the world create policies affecting areas such as monetary regulation and trade. Negatively, various environmental issues hare caused by globalisation. Global warming, air pollution, soil pollution, deforestation, etc. are global issues. The countries are interdependent on each other. The need of the hour is to act together against various environmental and other Global issues so as to ensure a safer world. India has been a country most effected by globalisation and liberalisation, as the Indian market has been flooded with quality foreign products, affecting the Indian industries adversely. This has also resulted in the loss of jobs to many poor workers. Clothes, bikes and motors from China, toiletries and herbs from Indonesia and Malaysia, food from Australia and many more await the Indian consumers with the lifting of trade restrictions. Indian manufacturers are no longer able to compete with their global counterparts. The closing of industries and small businesses have become very common. It can be claimed that the advantages of economic reforms on the Indian economy would be a benefit however, only if the negative impacts that mentioned above such as, unemployment, and an ever-growing population, closing down of local businesses and more did not outweigh it.
All Research Proposal
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