Flexibility in labour laws will aid growth of companies by being competitive and progressive. By easing up on labour laws, company heads can negotiate wages and terminate employment, depending on market conditions. This will lead to an increase in the company’s competitiveness. The government has coRead more
Flexibility in labour laws will aid growth of companies by being competitive and progressive. By easing up on labour laws, company heads can negotiate wages and terminate employment, depending on market conditions. This will lead to an increase in the company’s competitiveness. The government has come up with flexible policies in labour laws to attract foreign investment. The government has allowed companies to ignore many of the labour laws. Instead of hiring workers on a regular basis, companies hire workers flexibly for short periods when there is intense pressure of work. This helps to reduce the cost of labour for the company and helps achieve desired profits.
The Indian government had put barriers to foreign trade and foreign investment to protect the interest of domestic producers from foreign competition, especially when industries had just begun to come up in the 1950s and 1960s.The main at that point was to encourage markets within the country to floRead more
The Indian government had put barriers to foreign trade and foreign investment to protect the interest of domestic producers from foreign competition, especially when industries had just begun to come up in the 1950s and 1960s.The main at that point was to encourage markets within the country to flourish. Had the government allowed competition from imports, the growing industries would have suffered a blow. Hence, India allowed imports of only essential goods such as machinery, fertilizers, petroleum etc.
In New Economic Policy in 1991, the government wished to remove these barriers because it felt that domestic producers were mature enough to compete with foreign industries. It felt that foreign competition would encourage local producers to improve the quality of goods produced by Indian industries. This decision was also supported by powerful international organisations. Now goods could be imported and exported easily and also foreign companies could set up factories and offices here.
Globalisation is the process by which businesses or other organizations develop international influence or start operating on an international scale. Globalisation is integrating the economy of a country with the economies of other countries under conditions of free flow of trade, capital and movemeRead more
Globalisation is the process by which businesses or other organizations develop international influence or start operating on an international scale. Globalisation is integrating the economy of a country with the economies of other countries under conditions of free flow of trade, capital and movement of persons across borders. It involves interaction between people, companies, and governments across the world. Globalization has grown due to advances in transportation and communication technology. It includes
• Increase in foreign trade
• Export and import of new technology
• Flow of capital and finance from one country to another
• Migration of people from one country to another.
How would flexibility in labour laws help companies?
Flexibility in labour laws will aid growth of companies by being competitive and progressive. By easing up on labour laws, company heads can negotiate wages and terminate employment, depending on market conditions. This will lead to an increase in the company’s competitiveness. The government has coRead more
Flexibility in labour laws will aid growth of companies by being competitive and progressive. By easing up on labour laws, company heads can negotiate wages and terminate employment, depending on market conditions. This will lead to an increase in the company’s competitiveness. The government has come up with flexible policies in labour laws to attract foreign investment. The government has allowed companies to ignore many of the labour laws. Instead of hiring workers on a regular basis, companies hire workers flexibly for short periods when there is intense pressure of work. This helps to reduce the cost of labour for the company and helps achieve desired profits.
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What was the reasons for putting barriers to foreign trade and foreign investment by the Indian government? Why did it wish to remove these barriers?
The Indian government had put barriers to foreign trade and foreign investment to protect the interest of domestic producers from foreign competition, especially when industries had just begun to come up in the 1950s and 1960s.The main at that point was to encourage markets within the country to floRead more
The Indian government had put barriers to foreign trade and foreign investment to protect the interest of domestic producers from foreign competition, especially when industries had just begun to come up in the 1950s and 1960s.The main at that point was to encourage markets within the country to flourish. Had the government allowed competition from imports, the growing industries would have suffered a blow. Hence, India allowed imports of only essential goods such as machinery, fertilizers, petroleum etc.
In New Economic Policy in 1991, the government wished to remove these barriers because it felt that domestic producers were mature enough to compete with foreign industries. It felt that foreign competition would encourage local producers to improve the quality of goods produced by Indian industries. This decision was also supported by powerful international organisations. Now goods could be imported and exported easily and also foreign companies could set up factories and offices here.
For more answers visit to website:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/
What do you understand by globalisation? Explain in your own words.
Globalisation is the process by which businesses or other organizations develop international influence or start operating on an international scale. Globalisation is integrating the economy of a country with the economies of other countries under conditions of free flow of trade, capital and movemeRead more
Globalisation is the process by which businesses or other organizations develop international influence or start operating on an international scale. Globalisation is integrating the economy of a country with the economies of other countries under conditions of free flow of trade, capital and movement of persons across borders. It involves interaction between people, companies, and governments across the world. Globalization has grown due to advances in transportation and communication technology. It includes
• Increase in foreign trade
• Export and import of new technology
• Flow of capital and finance from one country to another
• Migration of people from one country to another.
For more answers visit to website:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/