Globalisation And The Indian Economy Class 10 Ppt UPDATED Download

There are five elements of globalisation, these are foreign direct investments, distribution of technology, international trade, capital market flow, and migration. All of these elements play a crucial role in this concept. International trade allows companies to move their products freely across the globe. Foreign direct investments allow organizations to invest in the developing market, which helps with the distribution of technology and migration of labor. When this investment becomes successful, it increases capital market flow and strengthens an economy further.

As the third-largest economy in the world in PPP terms, India is a preferred destination for FDI;[19] India has strengths in information technology and other significant areas such as auto components, chemicals, apparels, pharmaceuticals, and jewellery. Despite a surge in foreign investments, rigid FDI policies resulted in a significant hindrance. However, due to some positive economic reforms aimed at deregulating the economy and stimulating foreign investment, India has positioned itself as one of the front-runners of the rapidly growing Asia-Pacific region.[19] India has a large pool of skilled managerial and technical expertise. The size of the middle-class population stands at 50 million and represents a growing consumer market.[20]

Globalisation And The Indian Economy Class 10 Ppt Download

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The term globalisation refers to the integration of the economy of the nation with the world economy. It is a multifaceted aspect. It is a result of the collection of multiple strategies that are directed at transforming the world towards a greater interdependence and integration.

High standard of living: With the outbreak of globalisation, the Indian economy and the standard of living of an individual has increased. This change is notified with the purchasing behaviour of a person, especially with those who are associated with foreign companies. Hence, many cities are undergoing a better standard of living along with business development.

Imagine a small village market where all are free to come and sell their products at whatever price they desire. There are no limitations on control of their products or the prices. This is a globalised trade. Anyone, in general context referring to any country, that can participate to set up, acquire, merge industries, invest in equity and shares, sell their products and services in India. But how does globalisation work? What are its effects on the Indian economy? Let us study in-depth about it below.

The middle classes of all countries have been the key drivers of the global economy in the last century. During the past several decades, world economic growth has occurred, mostly because of increased consumption in the middle classes of the United States, Europe, and other advanced countries. This class has been considered a thriving and vibrant catalyst for economic growth. It provides a strong base that drives productive investment and is a critical factor in encouraging other social developments that also stimulate growth and foster expansion of elements that contribute to a healthy society.

In 1991, after an economic downturn in the markets, the Indian government, ruled by the Indian Congress Party at the time, began opening up markets and launched an economic liberalization program.10 The substantial pace of growth of this class was primarily attributable to the incentivization for private capital investment and opening the economy to foreign investments. The total number of people in the middle class approximated thirty million in the 1990s, or less than 1 percent of the population. The percentage of those in the middle class began rising steadily to about 5 percent of the population in 2004.11

The study of international political economy is the study of interactions between markets and politics; the influence of markets on politics and the influence of policy on markets. The core of IPE is international money and international finance, and there is a particular focus on the 2008 financial crisis, its causes and its consequences. Other central topics include international trade and investment, which looks at the drivers of market globalisation and factors which shape the flow of trade and investment, and the international political economy and the environment, specifically, what impedes a genuine agreement on climate change.

I also work on feminist political economy theories, methods and methodologies, on the relation between production and reproduction in shaping processes of value and labour surplus extraction, and on the global political economy of work. In the last two years, I have worked extensively on the political economy of COVID-19 from a feminist lens centred on social reproduction, and accounting for intersecting inequalities of class, gender and race.

Based on my work, I have collaborated with international development organisations like the ILO and UNIDO and with INGOs like ActionAid, Labour Behind the Label, and War on Want. I have engaged with global development research or education centres like UNU-WIDER and the Global Labour University (GLU). I have worked alongside unions, labour organisations and NGOs, like the Self-Employed Women Association (SEWA), Cividep and READ in India.

In Class 10 Economics Chapter 4 Notes, students will learn about the Indian economy and how it affects globalisation. Students will learn about the integration between countries through foreign trade and foreign investment by MNCs in Class 10 Chapter 4 Economics Notes. They will learn how MNCs played a huge role in globalisation. The Economics CBSE revision notes provided by Extramarks have been created by experienced teachers according to the latest CBSE syllabus. These notes will provide students with an overview of all the topics and help them understand the process of globalisation and its impact in a better way.

First, on the economic front. Two decades after it began to open its economy, India's industries and innovators have gone global, investing and trading all over the world. Like American businesses, they have come to see that further growth depends on open markets, transparent regulations, and fair mechanisms to settle disputes. And while people in both India and America have important and sometimes conflicting concerns about market access and the effects of globalisation, the benefits of growing economic ties are clear: bilateral trade and investment has reached $100 billion a year, creating jobs and opportunities for Americans and Indians alike. There is much room for growth, and so we need to keep up the momentum, further reducing barriers to trade and investment in areas like multi-brand retail and creating hospitable environments for companies to do business. Because the world's two biggest democracies should have one of the world's most robust and consequential economic relationships.

The Excel spreadsheet simulations indicate that at the current rate of growth (5.9%) India would become a $ 5 trillion (in current dollars; India is already a $ 10 trillion economy measured in PPP, or Purchasing Power Parity) economy by 2029-30, and a 10 trillion economy and upper middle-income country by 2041-42. It will however still remain very far from entering the ranks of high-income countries at mid-century under the World Bank per capita income classification bands. 006ab0faaa