Advantages of Globalisation
(i) Transfer of Technology : Modern technologies and management services are being provided by MNCs in India.
(ii) Inflow of Foreign Capital : The inflow of foreign currency in the country has increased as MNCs bring capital in foreign currency.
(iii) Competition : The entry of MNCs has promoted competition in the domestic market. This has proved very beneficial for the Indian companies as well as consumers. Tata Motors, Infosys, Ranbaxy, Asian Paints and Sundaram Fasteners are some of the Indian companies which have benefitted from the increased competition. Globalisation has also helped these large Indian companies to emerge as multinationals. These MNCs have expanded their business globally creating employment opportunities for Indian people abroad. They earn valuable foreign exchange.
(iv) Benefits to Consumers :
We have a wide variety of goods and services at affordable prices before us in the market.
The latest models of the digital cameras, mobile phones and televisions made by leading manufacturers of the world are available in the market.
Today, Indians are buying cars produced by nearly all the top companies in the world.
A similar explosion of brands can be seen for many other goods.