There are no benefits of globalisation. OR There is no impact of globalisation on the Indian economy.
State with reasons whether you agree or disagree with the following statement:
There are no benefits of globalisation.
OR
There is no impact of globalisation on the Indian economy.
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No, I do not agree with the statement.
Globalisation for any country is important and the benefits are as follows:
- Globalisation helps developing countries to improve overall economic management and make their economies efficient.
- An increase in competition reduces the cost and improves the quality of products.
- More varieties are made available to consumers and at lower prices.
- Countries can get access to foreign investment and keep interest rates low.
- Political stability is established.
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