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What is globalization and what are its effects on the Indian economy?
It is largely positive. Globalization has brought many jobs and large sums of investment to India. India's economy has been growing at exceptional rates for the past several years and many new opportunities have opened up for India. Yet, India does remain quite poor. Its GDP per capita is less than $2,000, a fraction of the GDP per capita found in some Latin American and Eastern European nations. Most of those who profit from globalization in India are the upper classes, with many in the lower classes being displaced and suffering from miserable labor conditions. Nonetheless, globalization has created a large economic boom for India with largely positive effects Define economics on the welfare and scaruty of resources. Economics need to be studied to see where the economy is going, what can be removed from the economy and what can be added in order to improve it.
Economics is one of the fundamentals of business and if studied carefully, one can do very well business if all the right moves are made.
