Positive Effects of Globalization:
1. Globalization is a process of integrating the world into one market to enable easy movement of capital, goods, information and even workers across borders with no barriers.
2. Private firms can invest and disinvest at will, locate production centres at a profit yielding or cost reducing anywhere in the world, hire employees of foreign origin on cheaper rates, assign work to far away people with the desired skills and experience, and flood markets in the developing countries with consumer and other goods for sale at rates competitive to local products, and safely take back profits. All this is happening with the help of technology access to which is not yet universal or equal.
3. The globalisation process as manifested in the activities of multinational corporations, media giants and non-governmental organisations has considerably undermined the sovereign prerogatives of the state structures in the Third World. Territorial borders identified with nation states have become less effective to check ill effects of globalisation.
4. The bulk of the world community - the developing countries - has become part of globalisation with great hope.Let us look at India's experience.With strengths like well developed and highly competitive computer software industry, the availability of technical p and skilled work force and its potential as a very large middle class market,India has hopes to benefit in the era of globalisation.
5. Since 1991,India changed the orientation of its economic policy by injecting pronounced features of privatisation, liberalisation of rules for foreign investment,and disinvestment of public sector companies. Customers are flooded with an amazing choice of goods in the market - from motor cars to food products.
6. India's exports have gone up especially in service sector,investments have come into the country,and our foreign exchange res are extremely comfortable.Overall, India during globalisation has emerged as one of the fastest growing economies in the world.
