Introduction
MNCs, liberalisation(1991), WTO, and the impact of globalisation on India.
1
Globalisation
MNCs operate across countries for cheap labour, markets, resources. India liberalised in 1991: removed trade barriers, allowed foreign investment. WTO promotes free trade. Benefits: cheaper goods, IT boom. Concerns: small producers hurt, job insecurity.
Key Points
- •MNCs: operate in multiple countries
- •1991 liberalisation opened Indian economy
- •WTO: 164 members, promotes free trade
- •Benefits: cheaper goods, employment, IT growth
- •Concerns: small producers, job insecurity
Quick Summary
- ✓Globalisation through MNCs, trade, technology
- ✓1991 liberalisation: turning point
- ✓WTO promotes free trade; fair trade debate continues
Ready to practice?
Test your understanding with questions