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Introduction Globalization is the way to open businesses, improve
technological growth, economy, etc on international level for the
international players. It is the way to manufacturers and producers of
the products or goods to sell their products globally without any
restriction. It provides huge profit to the businessmen as they get
low cost labor in poor countries easily through the globalization. It
provides a big opportunity to the companies to deal with the worldwide
market. It facilitates any country to participate, set up or merge
industries, invest in equity or shares, selling of products or
services in any country. How Globalization Work Globalization helps
global market to consider whole world as a single market. Traders are
extending their areas of business by focusing world as a global
village. Earlier to the 1990s, there was restriction of importing
certain products which were already manufactured in India like
agricultural products, engineering goods, food items, toiletries, etc.
However, during 1990s there was a pressure from rich countries over
World Trade Organization, World Bank (engaged in development financing
activities), and International Monetary Fund to allow other countries
to spread their businesses by opening trade and market in the poor and
developing countries. In India the globalization and liberalization
process was started in 1991 under the Union Finance Minister (Manmohan
Singh). After many years, globalization has brought major revolution
in the Indian market when multinational brands came to India like
PepsiCo, KFC, Mc. Donald, Boomer Chewing gums, IBM, Nokia, Ericsson,
Aiwa etc and started delivering wide range of quality products at
cheap prices. All the dominating brands shown real revolution of
globalization here as a tremendous boost to the industrial sector
economy. Prices of the quality products are getting down because of
the cut throat competition running in the market. Globalization and
liberalization of the businesses in the Indian market is flooding the
quality foreign products however affecting the local Indian industries
adversely to a great extent resulting in the job loss of poor and
uneducated workers. Globalization has been bonanza for the consumers
however grave for the small-scale Indian producers. Positive Effects
of Globalization Globalization has affected the Indian students and
education sectors to a great extent by making available study books
and huge information over internet. Collaboration of foreign
universities with the Indian universities has brought a huge change in
the education industry. Health sectors are also affected a lot by the
globalization of common medicines, health monitoring electronic
machines, etc. Globalization of trade in the agricultural sector has
brought variety of quality seeds having disease resistance property.
However it is not good for the poor Indian farmers because of costly
seeds and agricultural technologies. It has brought a huge revolution
to the employment sector by the spread of businesses like cottage,
handloom, carpet, artisans and carving, ceramic, jewellery, and
glassware
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