“The impact of globalisation has not been uniform.” Explained

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Positive impacts of globalisation:

(i) MNCs have increased their investment in India.

(ii) MNCs have been interested in industries such as cell phones, automobiles, electronics, soft drinks, fast food services and banking. These products have well-off buyers.

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(iii) In these industries and services, new jobs have been created.

(iv) Local companies supplying raw material, etc., to these industries have also prospered.

(v) Several top Indian companies have been able to benefit from the increased competition.

(vi) They have invested in newer technology and production methods and raised their production standards.

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(vii) Some have successfully made collaborations with foreign companies.

(viii) Many large Indian companies have also emerged as multinationals.

(ix) Globalisation has also created new jobs in the IT sector like call centers, data entry accounting, administration, engineering, etc.

Negative impacts of globalisation:

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(i) There are a number of industries such as toys, tyres, batteries, capacitors, plastics, dairy products, vegetable oil, etc., where the small manufacturers have been hard hit due to foreign competition.

(ii) Thousands of educated and unskilled labourers have become jobless due to closure of various units.

(iii) Globalisation has a negative impact on most of the small industries which employ the largest number of workers after agriculture.

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