Negative effects of Globalization

Impact on India
Increased competition for indian companies
Consumers preference for foreign products Lowering of price leading to lowering of profits

Small scale and cottage industries affected

Exploitation of labour

Impact on other countries

Job outsourcing by developed countries
Lower job security, standard of living Use of technology and internet by terrorists

Increasing divide between the rich and the poor

Increasing pollution Adverse impact on health

Continued..
Loss of local culture
Use of internet by enemy nations Local industries being taken over by multinationals

Mncs influencing the political decisions

Increase in human trafficking

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