What is globalisation?, Factors that have enabled Globalisation
Globalisation And Indian Economy
In recent times, consumers have access to a wide choice of goods and services.
The markets are flooded with a variety of goods from all over the world. Every
season, new models of automobiles can be seen on Indian roads. Such wide
ranging choice of goods in our markets is a relatively recent phenomenon. Such
a variety of goods was beyond one's imagination in Indian markets even two
decades back.
In this chapter, we will discuss
• Globalisation and its components
Factors that enabled globalisation
• Impact of globalisation

• Globalisation
Expansion and extension of economic activities across political boundaries
is known as globalisation.
Components of Globalisation:
(i) Globalisation of Production
(ii) Globalisation of Markets.
Factors Enabling Globalisation:
(i) Technology
(ii) Liberalisation of foreign trade and foreign investment
(iii) Working of WTO.

• MNC
It is a company which controls or owns production in more than one country.

Investment
The money spent on assets like land, building, machines and other
equipments is known as investment.
Foreign Investment: The investment made by MNCs is called 'foreign
investment'.

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