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  1. Globalisation is the process of integration of an economy with the rest-of-the world.
  2. The need for globalisation arises because of: expansion of market, to raise capital resources, foreign exchange and technology, etc.
  3. Globalisation helps to exploit domestic resources, upgrade technology, earn foreign exchange, expand market, spread business risk and developing economic cooperation.
  4. Globalisation poses various threats like transmission of economic crisis, use of capital intensive technology causing large-scale unemployment, dependence on other countries, production and consumption of non-essential goods, unbalanced growth, concentration of economic power, etc.
  5. Indian economy is moving towards globalisation which is reflected by large inflow of FDI, full convertibility of rupee on current account, free transfer of foreign technology, adoption of international norms, frequent mergers and takeovers of firms, free trade regime, etc.
  6. Indian economy has been benefited by globalisation in several ways such as increase in exports, foreign exchange, large inflow of FDI, foreign technology, etc.
  7. Institutions like IMF, IBRD, IDA, WTO, etc. have facilitated the process of globalisation.

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