Globalisation creates a greater competition among producers. Both local and foreign producers have been of advantage to consumers, there is greater choice before these consumers who now enjoy improved quality and lower prices for several products. As a result, these people today, enjoy much higher standards of living than was possible earlier.
MNCs have increased their investments in India over the past 20 years, which means investing in India has been beneficial for them. In these industries and services, new jobs have been created. Also, local companies supplying raw materials, etc. to these industries have prospered.
Several of the top Indian companies have been able to benefit from the increased competition. They have invested in newer technology and production methods and raised their production standards.
Globalization has enabled some large Indian companies to emerge as multinational companies themselves. Globalization has also created new opportunities for companies providing services, particularly those involving IT.