The world today has come to be known as a global village. .explain the statement

Hi Gargi,

Let me outline the key rationale on why the world is regarded as a global village in today's business environment.

It is quite evident from the increase in foreign exchange reserves and foreign direct investment over the years that Indian economy has been trading with the world economy. This is what we commonly regard as globalisation. 

All this has been possible because the traders were successful in mitigating the barriers that restricted that cross-border movement of goods. Business is no more confined to the domestic and national boundaries of a country, rather it is now spread all over the world. The firms are entering foreign markets to exploit opportunities available for growth and expansion.

Therefore, the world today is regarded as a global village.

As per the marks, if required, you can also add a few advantages/arguments in favour of globalisation.

  • 0
What are you looking for?