Globalization and its imact on the indian economy

Hii

Impact- The implications of globalisation for a national economy are many. Globalisation has intensified interdependence and competition between economies in the world market. This is reflected in Interdependence in regard to trading in goods and services and in movement of capital. As a result domestic economic developments are not determined entirely by domestic policies and market conditions. Rather, they are influenced by both domestic and international policies and economic conditions. It is thus clear that a globalising economy, while formulating and evaluating its domestic policy cannot afford to ignore the possible actions and reactions of policies and developments in the rest of the world. This constrained the policy option available to the government which implies loss of policy autonomy to some extent, in decision-making at the national level.

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Hello Tofeeq,

Globalisation has opened up new and tremendous  opportunities for worldwide developers. To accrue the benefits of globalisation, India introduced economic policy changes and integrated its economy to the international economy since the cold war end. It has brought far reaching implications on India's economic, trade and investment relations with the countries of the world.

India's economic achievement over the last two decades has attracted the attention of other regional and global powers for closer cooperation with India.

Indian economy has improved alot since the arrival of globalisation. The measures taken by government to improve the economy of our country are clearly highlighted.

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Thank you!