Globalisation

The world we live in is a global market and we are the generation thriving on Globalisation. Everything that we see around us is there because the markets have come close and have integrated. But every coin has a two sides and similarly globalisation has its flip side too.

1. GLOBALISATION Presented by:- Alifiya Lakdawala (10) Mansi Shah (32) Vaibhav Sanghavi (29) Sanket Vyas (55)

2. Flow of content Introduction Globalisation Integration of economies Aspects of globalisation Dimensions of globalisation Reason for globalisation A dvantages and disadvantage Globalisation of I ndian economy Major policy changes Impact of globalisation:- Positive and Negative Conclusion

3. Introduction The modern world is seen as the world without geographical boundaries and any kind of barriers. Globalisation has been the major force behind this. Globalisation is the integration of the world economy and exchanging the ideas, products, technologies etc. The globalisation hit India late but had huge impact on the nations economic policies and various other aspects.

4. G lobalisation Globalisation   is the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture .   Globalisation means rapid increase in the share of economic activities taking place across national borders.

5. Integration of Economies The increasing reliance of economies on each other The opportunities to be able to buy and sell in any country in the world The opportunities for labour and capital to locate anywhere in the world The growth of global markets in finance

6. Aspects of globalisation Trade and transactions Capital and investment movement Migration Dissemination of knowledge

7. Dimensions of globalisation Economic globalisation Political globalisation Cultural globalisation Ideological globalisation

8. Reasons for globalisation Better resources Low cost of production Dilution of the local market Operating internationally Market expansion Increased profit

9. Globalisation… The good Increased productivity High standards of living Increase flow of foreign capital Increased competition Increase in the foreign trade Induce domestic firms to improve The bad Takeover of national firms Brings instability Impact on traditional industries Affects small industries Widens disparity Cultural impact

10. Globalisation of Indian economy Indian economy adopted the policy of restriction after the independence. But in 1991 due to the economic crises the government of India decided to open its market for the foreign investments. The new economic policies adopted had impact on every sector of the Indian economy.

11. Major policy changes Licence abolishing Dilution of MRTP act Foreign investment encouraged Fiscal reforms External sector reforms Outward looking policy Public sector reforms

12. Impact of globalisation Rapid growth of business. Opportunity to go global. Introduction of various new technology. Rise in access of technology in rural area. New technology in the agriculture Literate farmers Rise in the literacy rate and quality of education

13. Impact of globalisation Disparity in the society Ethical responsibility of business has been diminished . Price hike of every daily usable commodities . The local business has perished High growth but problem of unemployment . Affected the agriculture sector

14. Conclusion Globalisation had increased the trade of products, ideas, technologies etc. and created the world without boundaries but it also had some negative impact on the developing countries. Flowing with globalization ,India is shining in nearly every Prospects. India is getting a global recognition and slowly moving towards to become a major economic and political strength. Though the development is progressing rapidly , still many basic problems like rural poverty , corruption and political instability remained unsolved.