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CLASS 10
abdul shumz pm shri kv kanjikode

abdul shumz pm shri kv kanjikode 2
WHAT IS GLOBALISATION?
Globalization is a process of interaction and
integration among the ECONOMIES
[people, companies, and governments of
different nations], a process driven by
international trade and investment and
aided by information technology.
It means the coming together of various
economies of the world to form a global economy.

Trade and foreign investments will be
more among nations by opening up
their economies and goes global.
The result is increasing inter-
connectedness and integration of the
economies of the world.

Under globalization more
and more goods and
services, investments and
technology are moving
between countries.

In addition to goods, services,
investments, and technology,
there is a movement of people
who move from one country to
another in search of better
income, better jobs or better
education.

impacts of globalisation
(1) Positive impacts :
1.Globalization has resulted in more choices for the
consumers. They get better quality products at lower
prices.
2.This has improved the standard of living of people,
particularly living in urban areas.
3.MNCs have increased their investments in
developing countries like India in industries such as
cell-phones, automobiles, electronics, soft drinks, etc.
As a result of it new jobs have been created in
developing countries.

4. Local companies that supply raw materials
to MNCs have also benefited.
5. Local companies in countries like India
have been able to invest in newer technology
and production methods. They are
successful in raising their production
standards.
6. Globalisation has enabled some large
companies such as Tata Motors, Infosys to
emerge as multi-national companies.

7. Companies providing services particularly
in the field of information and communica
tion
technologies have also benefited by
globalisation.
Similar is the case in services like data entry,
accounting, administrative tasks and
engineering.

Negative
impacts
1.Displacement : Creation of special economic zones
has disrupted the lives of people who are displaced
such as tribals in large numbers.
2.Flexibility in labour laws: Flexibility in labour laws is
allowed by the government to attract foreign
investment. This has resulted in worsening the
condition of workers because they are appointed on a
temporary basis to avoid payment of provident fund
and other facilities. No overtime is paid for extra hours
of work. The workers are paid low wages.

3. Effect on small producers: Globalisation has
hit the small producers because they are unable
to compete with MNCs or the big producers or
manufacturers. Several units have been shut
down rendering many workers jobless. In India,
small industries which employ about 20 million
workers have been hit adversely.
The impact of globalisation has not been
uniform. It has positive as well as a negative
impacts.

Conclusion:
Rapid improvement in technology has been one
major factor that has stimulated the globalization
process.
For instance, advancement in transportation
technology has made much faster delivery of
goods across long distances possible at lower
costs. The cost of air transport has fallen which
has enabled much greater volumes of goods
being transported by airlines.

What are Multi-National Corporations (MNCs)?
A Multi-National Corporation is a company
that owns or controls production in more
than one nation.
The goods and services are produced
globally. The production process is divided
into small parts and spread out across the
globe.

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