Question

Estimate the impact of globalization on local industries of India.

Answer 1

Impact of globalization:

Positive effect:

1.  Several of the top Indian companies have been able to benefit from the increased competition. 
2.  They have invested in newer technology and production methods and raised their production standards. 
3.  Some have gained from a successful collaboration with foreign companies. 

Negative effect: 

1.  Some of the small industries have been hit hard due to competition. 
2.  Several units have been shut down rendering many workers jobless.