INTRODUCTIONGlobalisation has become the need of the day for every country of the world – be it small or big, developed or developing nation, Globalisation, which started as back as 1980, has spurred due to technological advancement in the areas of transport and communication and by the selection of big developing nations to bring necessary improvement in investment climate and to open up to international trade and investment. The most encouraging aspect is that for the first time, poor nations are trying hard with desire and commitment to harness the potential and opportunities of their huge labour to break into world markets for manufactured products and services. Since the initiation of globalisation, manufactures have witnessed a rise from less than 25 percent to 80 percent. The major contribution to this increase is made out by Brazil, China, Hungry, India and Mexico.GLOBALISATION AND INDIAN ECONOMY24 developing nations, which cover 3 billion people, have doubled their ratio of trade to income over the last two decades. Countries that undertook globalisation at a faster rate have increased their per capita income from 1 percent in the decade of 60s to 3 percent in the decade of 70s, 4 percent in the decade of… Read full this story
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