is significant increase in foreign investment in India. In the year 1990-91, totalforeign investment (FDI and Portfolio investment) was US$ 103 million. In the year 2005-2006 amount of foreign investment increase to US$ 20,155 million. Because of significant increase in foreign investment, India began to experience a surplus balanceof payments and very remarkable improvement in foreign exchange reserves.
(3) Increase in Foreign Collaboration:
Globalization has promoted collaboration of foreign companies with many India companies. These collaboration agreements can betechnical collaboration. Financial collaboration or both. In financial collaboration,foreign technology is provided by foreign companies. Foreign companies are settingup many enterprises in India in collaboration with Indian companies.
(4) Increase in Foreign Exchange Reserves:
As a result of globalization of Indianeconomy, foreign exchange reserves have also increased substantially. In 1991,foreign exchange reserves of India amounted to Rs.4,388, crore which in 2006-07increased to Rs.7,96,000 crore (US$ 185.1 billion). Thus, there has been an increaseof 181 times in foreign exchange reserves of India.
(5) Expansion of Market:
Globalization has expanded the size of market. It has permitted Indian business units to expand its business in the whole world. Nowmultinational corporations have no national boundaries. Indian companies likeInfosys. Tata Consultancy, Wipro, Tata Steel etc, doing their business in manycountries.
(6) Technological Development:
Globalisation has enabled the inflow of foreigntechnology, which is very superior and advance. Now Indian business units use thismodern technology.
(7) Brand Development:
Globalisation has promoted the use of branded goods. Now branded goods are not only durable goods but products of daily use like soap, cold-drinks, tooth-paste, garments, food grains, etc., are also branded. Foreign brands are2