GLOBALISATION OF INDIAN BUSINESS

Globalisation means free movements of factor-inputs, labour and capital as well as output between countries. It is the integration of the economy of a country with the world economy. Now, for a developing country like India, it implies opening up the economy to foreign direct investment. There are multinationals like IBM, GE, SONY, MCDONALDS, NOKIA, ERICSSON and LG which are operating in INDIA. The business environment has been changed with globalisation in India. It has been given better opportunities to the Indian business to market their products on the large scale world over. It is aiding in higher earnings of foreign exchange. The country shall have comfortable balance of payment. Inter national exposure through globalisation helps Indian companies to acquire and update their technology. It is the globalisation only that has helped our country to widen its export market throughout the world. Some of the Indian products like software, leather products, drugs, gems and jewellery, marine products, food products, readymade garments, sports good, hosiery goods etc. are being exported to the developed countries like US, Japan, Germany, UK and France. It is hoped that in coming days we shall see India as a far brighter, stronger and a leading nation throughout the world as a queen of business market. By:Adityakumar Gupta ECE/09/9303

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