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Question : 4
Total: 4
(a) Examine the steps taken by the Central Government and State Governments to attract foreign investment in India.
OR
(b) Examine the impact of globalization in India.
OR
(b) Examine the impact of globalization in India.
Solution:
(a) The steps taken by Central and State Governments to attract foreign investment are as follows:
(i) The government has set up Special Economic Zones or SEZs.
(ii) These SEZs provide world class facilitieselectricity, water, roads, transport, storage, recreational and educational facilities.
(iii) Companies who set up production units in the SEZs do not have to pay taxes for an initial period of five years.
(iv) The government has also allowed flexibility in the labour laws to attract foreign investment.
(v) Companies can now hire workers 'flexibly' for short period when there is intense pressure of work. This is done to reduce the cost of labour for the companies.
OR
(b) The impact of globalisation in India is as follows:
(i) Globalization has brought tough competition for Indian manufacturers. For example, Tata Motors and Mahindra & Mahindra are competing with Ford Motors, Hyundai Motors, etc.
(ii) It has allowed the consumers to enjoy a wider range of goods and services at lower costs. As a result, they enjoy much higher standards of living than it was possible earlier.
(iii) The Indian market has grown multifold due to foreign investment and foreign technology in India. For example, the growth rate of Indian GDP has increased remarkably.
(iv) Globalisation has provided many opportunities for Indian manufacturers to enter into foreign markets as MNCs. For example, Tata Motors, Ranbaxy, etc.
(v) Globalisation in India has also raised demand for better transportation. This has resulted into better highways and economic corridors.
(i) The government has set up Special Economic Zones or SEZs.
(ii) These SEZs provide world class facilitieselectricity, water, roads, transport, storage, recreational and educational facilities.
(iii) Companies who set up production units in the SEZs do not have to pay taxes for an initial period of five years.
(iv) The government has also allowed flexibility in the labour laws to attract foreign investment.
(v) Companies can now hire workers 'flexibly' for short period when there is intense pressure of work. This is done to reduce the cost of labour for the companies.
OR
(b) The impact of globalisation in India is as follows:
(i) Globalization has brought tough competition for Indian manufacturers. For example, Tata Motors and Mahindra & Mahindra are competing with Ford Motors, Hyundai Motors, etc.
(ii) It has allowed the consumers to enjoy a wider range of goods and services at lower costs. As a result, they enjoy much higher standards of living than it was possible earlier.
(iii) The Indian market has grown multifold due to foreign investment and foreign technology in India. For example, the growth rate of Indian GDP has increased remarkably.
(iv) Globalisation has provided many opportunities for Indian manufacturers to enter into foreign markets as MNCs. For example, Tata Motors, Ranbaxy, etc.
(v) Globalisation in India has also raised demand for better transportation. This has resulted into better highways and economic corridors.
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