How is globalisation been advantageous to both producers as well as consumers in india?
Answers & Comments
sona63
Effect of globalisation in India on consumers . greater choice of products than before . lower prices of several products . improved quality of goods . better living standard
For Producer . top Indian companies have been able to benefit from the increased competition due to globalisation by raising their production standards . some indian companies emerged as multinationals . local companies supplying raw materials etc to MNCs have prospered.
(i) Globalisation and greater competition among producers-both local and foreign producers-has been of advantage to consumers, particularly the well-off sections in the urban areas.
(ii) There is a greater choice before these consumers who now enjoy improved quality and lower prices for several products.
(iii) As a result, these people today enjoy much higher standards of living than was possible earlier.
Answers & Comments
on consumers
. greater choice of products than before
. lower prices of several products
. improved quality of goods
. better living standard
For Producer
. top Indian companies have been able to benefit from the increased competition due to globalisation by raising their production standards
. some indian companies emerged as multinationals
. local companies supplying raw materials etc to MNCs have prospered.
(i) Globalisation and greater competition among producers-both local and foreign producers-has been of advantage to consumers, particularly the well-off sections in the urban areas.
(ii) There is a greater choice before these consumers who now enjoy improved quality and lower prices for several products.
(iii) As a result, these people today enjoy much higher standards of living than was possible earlier.