Negative Impact of Globalisation in India
There is also a negative side to globalisation in India. For a large number of small producers and workers globalisation has posed major challenges.
Let us look into reasons for this negative impact:
1. Rising Competition
Liberalisation of Foreign Trade policies allowed the import of electronic goods at a very cheap cost. Local producers of electronic goods were not able to meet with this challenge. MNCs flooded the market with quality products at a cheap price. Local producer are not able to compete with this and are put to hardship, as their goods do not have a market.
2. Uncertain Employment
In order to compete in the world market exporters try and cut labour costs. Workers are denied their fair share of benefits as manufacturers are always on the look out for cheaper labour.