| What are the main impact of Globalisation on Indian Economy? |
| Or |
| Explain political impact of globalisation. |
Answer:
Impact of Globalisation on Indian Economy (or Political Impact).
Following main achievements have been claimed especially on the external front-
(a) India's share in world trade which had fallen 0.53 per cent in 1991 from 17.8 per cent in 1950, has shown reverse trends and has improved to 0.86 per cent in 2003.
(b) In June 1991, foreign currency reserves were barely one billion dollars, it rose to about 141 billion dollars in March. 2005.
(c) Average growth rate of export has been around 10 per cent per annum during 1992-2004.
(d) International confidence in India had been restored. In 1991, FDIs were just 155 million dollars in 1991, which increased to around 3200 million dollars in 2004-05.
(e) Rating agencies have upgraded India's rating.
(f) Exports now finance over 80 per cent of imports.
(g) Current account deficit was over 3 per cent of GDP in 1990-91, it had fallen to less than 1 per cent in 2000-01.
You need to login to perform this action.
You will be redirected in
3 sec
