Explain the visible impacts of globalization on the indian economy with 2 examples.

 One of the most visible positive effects of globalization is the improved quality of products due to global competition. Customer service and the 'customer is the king' approaches to production have led to improved quality of products and services. As the domestic companies have to fight out foreign competition, they are compelled to raise their standards and customer satisfaction levels in order to survive in the market. Besides, when a global brand enters a new country, it comes in riding on some goodwill, which it has to live up to. This creates competition in the market and a 'survival of the fittest' situation.

The visible impacts of the Indian economy are:

1. Increase in the volume of trades of goods and services.
2. More availability of investible funds in the form of FDI.
3. In flow of private foreign capital and export orientation of the economy.
4. Helps in development and strengthening of domestic economies of India.
5. Improve productive efficiency & healthy competition.
6. Small manufacturers producing toys,vegetable oils etc.,have been hit hard due to competition.

 Impact of globalisation on:

• Producers: Tough competition faced by the producers in the native country by the producers of foreign markets
• Workers: Job insecurity, denial of fair share in the benefits brought about by globalisation.

Other impacts:

• Increase in the foreigh trade
• Increase in foreign investment
• exchange of technology between countries.
• Better means of communication have developed alongside globalization
• Better job opportunities for people gave rise to migration