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Unit 4 Ch 4 : Globalization and the Indian Economy — Social Studies STD 10 — Question

CBSE BoardEnglish MediumSTD 10Social StudiesUnit 4 Ch 4 : Globalization and the Indian Economy5 Marks
Question
Recent studies point out that small producers in India need three to compete better in the market (a) better roads, power, water, raw material, marketing and information network (b) improvement and modernization to technology (c) timely availability to credit at reasonable interest rates.
  1. Can you explain how these three things would help Indian producers?
  2. Do you think MNCs will be interested in investing in these? Why?
  3. Do you think the government has a role in making in these facilities available? Why?
  4. Can you think of any other step the government could take? Discuss.
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Answer

  1. The following points:
  1. Rise and growth of MNC's has undoubtedly led to competition for the small producers.
  2. Many small manufacturers, small scale industries had to shut down because of their inability to cope with foreign brands leading to unemployment.
  3. Availability of better power, better roads, infrastructure, raw materials would help small producers in expanding their production, to reach out to more consumers.
  4. Good marketing strategies, innovation will them to expand their market and support them in selling their products.
  5. Cheap credit will provide them with required financial assistance to expand production.
  6. Improvement in technology will help them to improve quality of their products.
  1. MNC's would really be interested in such aspects as it would require large investment, and would not necessary bear good earnings.
  2. Government would have a major role to play in providing such services and provide protection to small producers.
  3. Government must provide tax benefits, encourage investment, provide financial support to small manufacturers.

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