What do you mean by globalization? What are the effects of globalization in India?

Globalization is the integration or interconnection between the countries through trade and foreign investment.

Positive Impacts:

1. Greater choice and improved quality of goods at competitive price and hence raises standard df living.
2. MNC’s have increased investment in India.
3. Top Indian companies emerged as multinationals.
4. Created new opportunities for companies providing services like IT sector.
5. Collaboration with foreign companies help a lot to domestic entrepreneurs.

Negative Impacts:

1. Indian economy faced the problem of brain drain.
2. Globalization has failed to remove unemployment and poverty.
3. Cut in farm subsidies.
4.  Closure of small industries.

For more answers visit to website:
https://www.tiwariacademy.com/ncert-solutions/class-10/social-science/