I believe Globalisation has brought the world closer to us and therefore we enjoy more merits than demerits.
Firstly, Through Globalisation, we have access to better products at better price. It doesn't mean that our local made products are useless. As long as the product is percieved to be good by the consumers, the company whether it is foreign or local will make profits. This rules out the main argument that when foreign companies come to India, the domestic players will get affected. So when we think from the consumers point of view, we get better products at better prices. This also leads to improved standard of living of people.
Secondly, Through Globalisation, more and more companies come to India which means more income for the government through taxes.
Thirdly, we have wider choice of products available in the market, which is a result of globalisation.
Through globalisation, not only foreign companies come to India, but also Indian companies go abroad. We have many Indian Multinational companies which spread the corporate image of India in other countries.
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Globalisation started in the early 90's and has proved very successful for the growth of trade and commerce. Globalisation is basically trade between different nations of the entire world. Going beyond the national boundaries and working internationally. Globalisation has given lot of benefits and has led to the development of a country like India. Globalisation has advantages but at the same time we also face with the disadvantages also. Advantages as we know has led to the development of the nation. It has led to build good relations between countries of the world. With globalisation we can import goods and services that are not available in our country. We can also export and earn good amount of foreign exchange. However, with globalisation there are many things which are unwanted and hence termed as the disadvantages of globalisation. There are so many crimes and frauds that take place during imports and exports. Smuggling of drugs and such related items have taken place. However, because of the rising crimes and frauds strict rules and regulations have been implemented by the government at airports so that no such things can be allowed to bring in any country. We should make use of globalisation in a good way and not misuse it. Use it in a good way which will help in the development of the country.
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