Explain visible imports of globalisation on the Indian Economy, with two examples. -SST 10th

Explain visible imports of globalisation on the Indian Economy, with two examples. -SST 10th
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(i) Greater Competition among producers : Greater competition among producers both local and foreign, has been of advantage to consumers, particularly the well-off section of the society. Consumers of now have greater choice. For example : Shoes produced by Indian companies and shoes produced by MNCs like Bata, TSF, Woodland etc. Consumers have more choice. They can compare in terms of quality, price etc. (ii) Phenomenal growth of service sector : The present share of service sector in country’s GDP is more than 50%, which was about 40% in 1990 at the time of start of globalisation. Information and communication technology also grew on an average 20%.
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