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The impact of globalization on India's economy
The impact of globalization on India's economy
The impact of globalization on India's economy
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Conducting Business in India
According to the CIA World Fact Book and the World Bank, India’s trillion-dollar economy has been ranked fourth worldwide and is the second most populated country in the world (n.d.). These statistics provide adequate indicators to corporations and aspiring entrepreneurs that India has potential within the world market. Since the reforms of the 1990s, India has embraced the concept of globalization and the open-market. GlobalEDGE (n.d.) identified these reforms to include “increasingly liberal foreign investment and exchange regimes, industrial decontrol, deductions in tariffs and other trade barriers, opening and modernization of the financial sector, significant adjustments in government monetary and fiscal policies, and more safeguards for intellectual property rights” (GlobalEDGE, n.d.). India’s transition has been systematic and has evolved from a closed-door economy to a thriving open-market that has unleashed the country’s economic potential with far-reaching impact.
Major Industries and Exported Products of India
Potential “Major U.S. imports from India include textiles and ready-made garments, Internet-enabled services, agricultural and related products, gems and jewelry, leather products, and chemicals” (GlobalEdge).
India’s economic growth as a result of globalization
Since the reforms of 1991, India has embraced globalization and has experienced steady growth year after year. According to the CIA World Factbook, India’s economy has experienced an average growth of more than seven percent since 1997 (CIA, n.d.).
Affects of local employment and income distribution as a result of globalization
Treatment of women in the workforce and how globalization has impacted their t...
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...ate gift, large expensive gifts, leather-made gifts, or gifts wrapped in white or black (globalEDGE, n.d.)
Works Cited
CIA world factbook India. (n.d.) Retrieved from https://www.cia.gov/library/publications/the-world-factbook/geos/in.html
Dasgupta, K. (2003). Globalisation and Indian women: Problems, possibilities, and information needs – An overview. Retrieved from http://comminfo.rutgers.edu/~clairemc/IFLA_2003_proceedings.pdf
GlobalEDGE. (n.d). Global insights: India. Retrieved from http://globaledge.msu.edu/Countries/India
S Tarakeswara Rao, Prof G Tulasi Rao, & M P Suri Ganesh. (2011). Women
Entrepreneurship In India (A Case Study In Andhra Pradesh). The Journal of
Commerce, 3(3), 43. Retrieved from ABI/INFORM Global.
(Document ID: 2487921061).
Gender violence in India. Pranjya (2010). Retrieved from http://www.prajnya.in/gvr10.pdf
Many developed and developing countries want to protect their own industries such as India who is still reluctant to give foreign firms greater access to its economy, as shown by the political row over its much delayed decision to open up the supermarket sector to global giants
Though the world economy as a whole has grown in recent years, a factor that is not taken into account is that the number “of the poor in the world has increased by 100 million” (Roy 3). In other words, the gap between rich and poor is widening. For India, this has startling implications. Though it is a nation that is developing in many ways, it also is a nation blessed with over one billion citizens, a population tally that continues to grow at a rapid rate. This population increase will greatly tax resources, which can create a setback in the development process. The tragedy, of course, is that the world is full of resources and wealth. In fact, Roy quotes a statistic showing that corporations, and not even just countries, represent 51 of the 100 largest economies in the world (Roy 3). For a country struggling to develop, such information is disheartening. However, there is also a more nefarious consequence of the growing disparity between rich and poor, and power and money being concentrated in the hands of multinational corporations: war is propagated in the name of resource acquisition, and corruption can reign as multinationals seek confederates in developing countries that will help companies drive through their plans, resulting in not only environmental destruction but also the subversion of democracy (Roy 3).
intensive patriarchal system in their society. However they have ignored that economic globalisation advanced by the western world has adversely affected women in poor countries by widening inequalities among and within nations, marginalising rural women, exploitation of women at work places etc. Globalisation has exposed women in developing countries to occupational hazards by dumping of obsolete technology of West in developing countries. Most of the global corporations shift their production and manufacturing units in developing countries because of the availability of cheap abundant labour and possibility of cutting down cost of production by depriving the workers of the standard wages. Globalisation is gravitated towards destruction of indigenous industries, handicrafts sector etc. which forces women in rural areas to travel to distant places in order to earn livelihood for the family. Earlier she could earn her livelihood by sitting at home by engaging in handicrafts but now she is forced to move out in search of work. Those who fail to find work are driven into prostitution, human trafficking which is worst form of female victimization. There is increase in migration of women to developed countries as domestic workers where they are exploited even more
Journal of International Women’s Studies 14.1 (2013): 236-247. MLA International Bibliography. Web. The Web. The Web.
Mohan, S. et al. (2001). “Baseline Report: Women and Political Representation in India.” International Women’s Rights Action Watch: Asia Pacific (IWRAW). Retrieved on December 17th, 2011 from < http://www.iwraw-ap.org/aboutus/pdf/FPwomen_and_pol_pax.pdf>.
While this work reflects much more on the European women who found themselves in British India with the vigor to bring political and social change to women in what is now modern day India, pakestan and shri lanka, Jayawardena widens our scope of the women who we identify as western feminist as a development in 19th and 20th century South Asia. I appreciated the detailed accounts of that these readings brought to Josephine Butler, as well as early Christian missionaries, and utilitarian activist such as Mary Carpenter and Annette Ackroyds. Through these specific examples, a the concept of a "global sisterhood" is commonly supported, but distinguishably executed. This is still true today when looking at contemporary missionary and feminist quest to improve the lives of women, globally. However, this concept of a "global sisterhood" to suggest the formation of an international feminist platform, finds its roots in imperialism and western ideologies that cannot be escaped. These readings, in conversation provide light on the history of global feminism and the empire as of way helping us understand the historical issues that keep the formation of solidarity between women around the world in a singular movement hard to
Mohanty, Chandra Talpade, Ann Russo, and Lourdes Torres. Third World Women and the Politics of Feminism. Bloomington: Indiana UP, 1991.
Growing up in a traditional Punjabi family with both of my parents being born and raised in India has been an experience that I can only fully comprehend now at the age of twenty-three. Realizing how backward our culture is when it comes to women’s equality among family and society is an astonishing thought. Even though there is more gender equality here in America than in India within our households the women are still subjected to live and serve the men of the house. This custom has become almost an unconscious thought, to think of Punjabi women living in a traditional family more than a maid or babysitter would be blasphemous and heretical talk.
Globalization, or outsourcing, has been a hindrance on the American economy for the better part of twenty years. Outsourcing has cost millions of jobs in the United States over the past twenty years, and continues to create problems for the families in the United States. Outsourcing is a hindrance on the American economy, and will create a lasting effect on the college graduates and younger children of today. While outsourcing is bad for the American economy, it has been a growth factor for the economies of the countries such as India. However, India has a social caste system. The caste system determines what social class one is born into, and that person has to stay in that social class for their entire life. Therefore, the economy of that country would be better, but it would only help the rich get richer and politicians have a stronger effect on the poorer classes.
As a result of this norm, more feminists who recognize the “systematic disadvantage” (Cahill 206) that women face daily in other countries is the reason why many feminists believe governments should oppose typical gender roles and gender stereotypes by protecting the rights of women. However, culture is always subject to change thus, leading developing countries who have neglected the rights of women to improve due to the global influence of other countries who have gender equality. This, in turn, leads countries to be “forced” to accept feminist agendas who “hold[ing] these patterns… to change them, and thus to change the realities that they produce” (Cahill 208). Not only does gender affect social issues but it also has progressed onto the economic sector for business as well, making gender a multifaceted topic for any
The author supports his argument with concrete and clear details that support it. He started by asking a question of "will politics enable India to achieve its potential or choke it?" (3). He established that India achieved significant results. Less than a third of India's population
‘For Australian businesses looking to expand their operations overseas, China is a more attractive location than India.’ To what extent do you agree with this statement? Justify your answer.
India, the second highest populated country in the world after China, with 1.27 billion people currently recorded to be living there and equates for 17.31% (India Online Pages 2014) of the world's population, but is still considered a developing country due to it’s poverty and illiteracy rates. As these nations continue to grow at rates that are too fast for resources to remain sustainable, the government’s in these areas wi...
Countries around the world have closer over past few decades due to growing integration between economies. The main cause behind this growth has been globalization. There can be various definitions of globalization according to different aspects like economic activities, political, technological, cultural interactions. It brings the countries closer to each other and make them more interrelated through providing unrestrained trade and financial exchange. The process of globalisation not only includes opening up of world trade, development of advanced means of communication, internationalisation of financial markets, growing importance of MNC’s, population migrations and more generally increased mobility of persons, goods, capital, data and ideas but also infections, diseases and pollution. Opening up the economy to globalization can have both favourable and unfavourable impact on the country’s economic growth, environment, human capital, cultural dominance etc. Since globalization has been a hot topic over last few decades, it becomes imperative to study its impact on the economic growth of the country.
India is a nation that is on the move towards becoming one of the leaders in the global economy. While the country still has a long way to go, it is making significant strides towards competition with nations such as the United States and England. Indian leaders have been moving towards "a five-point agenda that includes improving the investment climate; developing a comprehensive WTO strategy; reforming agriculture, food processing, and small-scale industry; eliminating red tape; and instituting better corporate governance" (Cateora & Graham p. 56, 2007). These steps are geared to begin India's transformation from a third world nation into a global economic leader. The current marketing environment in India is in transition, with both similarities and differences in comparison to the marketing environment in the US.