Globalisation

Transcript

Globalization-Meaning and Example North Korea No interaction with Other Countries Very Little Import, Export, Foreign Trade Very less Tourist visit North Korea Not much Affected by World Events (COVID, Stock market Crash etc.) India Properly Integrated with Outside World Large Imports, Exports, Foreign Trade Large number of Tourist visit India, go abroad Much Affected by World Events (If US Stock Market Crashed, India's Stock Market also crashes) This is due to Globalization What is Globalization? It is integration of Domestic Economy with Global Economy. What is Globalisation? It means integration Of Country’s Domestic economy with World’s Economy Important Points of Globalisation It means following set of policies which lead to Greater interdependence and integration of world Happenings In India are Influenced by happening far away. Example-COVID Various Economic ,Social Geographical boundaries are broken (We can travel and work anywhere) World becomes borderless (Different countries of world become one whole) Effect of Globalisation in India Before 1991 Indian Customers purchased mostly Indian Goods Maruti 800 (INDIA) Not many Foreign Companies (MNC) in India Netherland MNC in India American MNC in India After 1991 Reforms Indian Customers have a choice They can Purchase Either Indian or Foreign Goods Maruti 800 (INDIA) Hyundai Santro (South Korea) Lot of MNC (Multi-National Companies) Both Foreign and Indian Providing Jobs to lakhs of People Foreign MNC in India Indian MNC Operating worldwide Effect of Globalisation in India BEFORE 1991 No Outsourcing to India USA Company USA Call Center AFTER 1991 REFORMS Large Business Process Outsourcing (BPO) to India USA Company Indian Call Center Indian Call Center working for US Client Benefits Providing Business to Outsourcing Companies Jobs to Employees