Describe the Impact of Globalisation on Indian Economy With Examples

By Ruchika|Updated : September 5th, 2022

The impact of globalisation on the Indian economy has been huge. Globalisation is when businesses start operating on an international level. In India, globalisation started in the 1990s and its impact can be heavily felt today in many ways.

Impact of Globalisation on Indian Economy

The impact of globalisation on Indian economy with examples is listed below.

  • Because of globalization, there has been an increase in the creation of new jobs in India. As various international companies are operating in India now, it has created various new job opportunities. The IT sector has been booming in India for the last few years due to globalisation.
  • There has also been an increase in opportunities as Indian companies are collaborating with international firms to expand their businesses and revenues.
  • There has been an increase in foreign investments as well. As more companies are investing in India, it has resulted in an increase in foreign reserves.
  • Globalisation has also impacted India on a cultural and philosophical level as the western style of living and western thoughts are becoming more prevalent.

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FAQs

  • The impact of globalisation on the Indian economy can be seen through an increase in foreign investment and an increase in jobs and opportunities.

  • Globalisation has improved Indian economy by improving foreign reserves and investments. It has opened up doors for the expansion of companies as new technologies are coming to the country.

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