Fair globalization would create equal opportunities for all and would ensure that the benefits of globalization are shared better. The government can play a major role in making this possible. The policies of the government must protect the interests of all the people of the country, not only of the rich and powerful. Hence, the government can play a functional role by helping bridge the gap between the two.
The government must ensure that the labour laws are properly implemented and the workers get their rights. Support to the domestic and smaller producers must be ensured by making them strong enough to enter the competitive global market.
It is necessary for the developing countries to have stronger trade and investment rules. They should negotiate at the WTO for fairer rules and regulations.
OR
Globalization has contributed in booming the Indian economy in following ways :
(i) Greater competition among producers resulting from globalisation is a great advantage to consumers as there is wider choice regarding every product before them.
(ii) Due to globalisation, many MNCs have increased their investments in India, this has not only helped in the inflow of capital but also largely helped in employment generation.
(iii) Local companies supplying raw materials to industries that have been set as a result of the globalization, have prospered leaps and bounds.
(iv) Large Indian companies have emerged as multinational companies. This has helped our country to increase our contacts around the world. Globalisation has helped increase our GDP and per capita income, thus making the living standards better across the globe.