What is meant by globalization? Examine its impact on Indian society. वैश्वीकरण से क्या अभिप्रेत है? भारतीय समाज पर इसके प्रभावों की परीक्षा कीजिए।
What is meant by globalization? Examine its impact on Indian society. वैश्वीकरण से क्या अभिप्रेत है? भारतीय समाज पर इसके प्रभावों की परीक्षा कीजिए। 🌎 English Answer (Detailed) Meaning of Globalization Globalization refers to the process of increasing interconnectedness and interdependence among countries through the flow of goods, services, capital, technology, information, and culture across borders . It leads to the integration of national economies into a global economy. In simple terms, globalization turns the world into a global village , where distance and boundaries become less significant. India adopted globalization formally with the New Economic Policy (LPG – Liberalization, Privatization, Globalization) in 1991 , which opened Indian markets to foreign trade and investment. 🇮🇳 Impact of Globalization on Indian Society 1. Economic Growth Foreign investment (FDI), multinational companies, and global trade expanded job opportunities and improved economic devel...