A. Globalisation In India Factors And Causes
[Image: Factors responsible for Globalisation]
The present era of globalisation is promoted and supported by several factors. A few of the factors which aid the process of globalisation are as follows:
|
Economic Reforms |
In 1991, India initiated a series of economic reforms that aimed to liberalise and globalise various sectors of the economy.
|
|
Information Technology |
India emerged as a global hub for information technology (IT) and software development.
|
|
Foreign Direct Investment (FDI) |
India has actively sought foreign investment by easing restrictions on FDI in various sectors.
|
|
World Trade Organization (WTO) |
WTO lays out rules concerning global trade and sees that these principles are complied with. |
|
Infrastructure Development |
Investments in infrastructure, including ports, airports, and transportation networks, have enhanced India’s connectivity with the rest of the world. |
|
Diverse Workforce |
India’s diverse and skilled labour force has been a major asset in the Globalisation process.
|
|
Cultural Exchange and Soft Power |
India’s rich cultural heritage, including its cinema, cuisine, yoga and traditions, has gained international popularity.
|
|
Global Diaspora |
The Indian diaspora spread across the globe has played a significant role in globalizing Indian businesses and culture.
|