Globalization and the Indian Economy

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A Multinational Corporation (MNC) is a company that owns or controls production in more than one nation. MNCs set up offices and factories in regions where they can get cheap labor and other resources…

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MNCs spread production across countries to: 1) Access cheap labor and raw materials, 2) Be closer to markets for reduced transportation costs, 3) Take advantage of different countries' specializations…

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Foreign investment is the money spent by MNCs to buy assets such as land, buildings, machines, and other equipment in countries other than their home country. This investment is made with the hope tha…

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Foreign trade integrates markets by: 1) Allowing goods to travel from one market to another, 2) Increasing choice of goods in markets, 3) Making prices of similar goods tend to become equal across cou…

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Globalization is the process of rapid integration or interconnection between countries through greater foreign investment, foreign trade, and movement of technology and services. It results in closer …

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Key technological factors include: 1) Improved transportation (containerization, faster ships, cheaper air transport), 2) Information and Communication Technology (internet, mobile phones, computers, …

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A trade barrier is a restriction set up by governments to regulate foreign trade. Tax on imports is a common example - if the Indian government puts a tax on imported Chinese toys, buyers have to pay …

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Liberalization is the process of removing barriers or restrictions set by the government on foreign trade and investment. It allows businesses to make decisions freely about imports and exports, with …