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Globalisation and indian economy... cbse class x social science...

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Useful for students of class X as well as for the students of class XI and XII

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Globalisation and indian economy... cbse class x social science...

  1. 1. GLOBALISATION AND INDIAN ECONOMY. Globe- Global- Globalisation -Being Global. Pankaj Saikia/MES-2014
  2. 2. • Out of the food items that have been displayed in the feat which is not found in India. Just Think…….. • Is the dress that we are wearing is our tradition! • Is the language that we are speaking is of Indian origin? • Think about some other areas like Education, Employment, Production, Culture! COUNTRIES ARE INTERCONNECTED Pankaj Saikia/MES-2014
  3. 3. Pankaj Saikia/MES-2014
  4. 4. GLOBALISATION It is the process of rapid integration or interconnection between countries. Pankaj Saikia/MES-2014
  5. 5. ECONOMIC GLOBALISATION It is the process of rapid integration or interconnection of investment, production, distribution, employment and trade among countries of the world. Pankaj Saikia/MES-2014
  6. 6. Multinational Company/Corporations- The companies or corporations which have their business in more than one country are called Multinational Corporation or MNC. for example- Pepsi, Nike, Apple Microsoft, etc. FEW IMPORTANT TERMS ; Pankaj Saikia/MES-2014
  7. 7. Investment- The money that is used to assemble the factors of production such as land. building, machinery etc. are called Investment. Foreign Investment- Investment made in a country by a Multinational Company originated from some other country is called Foreign Investment. FEW IMPORTANT TERMS ; Pankaj Saikia/MES-2014
  8. 8. Foreign Trade- The trade or buying and selling activities among the different countries are called foreign trade. • Export- Selling of goods or service to any foreign country. • Import- Buying of goods or services from rest of the world. FEW IMPORTANT TERMS ; Pankaj Saikia/MES-2014
  9. 9. • Spreading production across countries…….. • Interlinking production by setting up production centers in different countries! • Joint production of MNCs with domestic companies? • Free trade among the countries! WAYS OF INTER CONNECTIONS Pankaj Saikia/MES-2014
  10. 10. SPREADING PRODUCTION OF NOKIA MOBILE. Technology development in USA Headquarter and control from Finland Hardware in China Software by Microsoft in India and USA Assembled in India and China Pankaj Saikia/MES-2014
  11. 11. •Quality and cheap Labour. •Low cost of production. •Wider market. •Better quality of material. •Final production near the market. •And many more….. BENEFIT BY SPREADING PRODUCTION ; Pankaj Saikia/MES-2014
  12. 12. INTERLINKING PRODUCTION ACROSS COUNTRIES USA Pakistan India Bangladesh China Pankaj Saikia/MES-2014
  13. 13. For MNCs- •Standard of the products produced strictly as per the demand of the customer. •As the goods are produced and sold in one country the cost of production is less and hence can sale at a lower price. •Better consumer response as the goods is produced in their locality. BENEFIT OF INTERLINKING PRODUCTION ; Pankaj Saikia/MES-2014
  14. 14. •For domestic countries- •Increase employment opportunity for the people of domestic country. •It brings foreign capital and helps in expansion of foreign exchange (foreign currency) reserve. •Helps in utilisation of unused resources. •Customers get better quality products at a comparatively lower price. •Increase in countries revenue by way of tax. BENEFIT OF INTERLINKING PRODUCTION ; Pankaj Saikia/MES-2014
  15. 15. INTEGRATION OF MARKET It refers to Export and import of goods and services among the countries. Pankaj Saikia/MES-2014
  16. 16. MARKET INTEGRATION Pankaj Saikia/MES-2014 INDIA Saudi Arabia Britain USA Pakistan
  17. 17. •Better quality products. •Optimum utilisation of resources. •Wider market for the producers. •Wider choice and lower price. •Access to product produced in any place of the world. • Harmony among the countries. BENEFIT BY MARKET INTEGRATION ; Pankaj Saikia/MES-2014
  18. 18. RESTRICTIONS IN TRADE AMONG COUNTRIES Traditionally the countries of the world were very conservative and did not allow the foreign trade freely. They imposed many barriers to restrict trade. Such as- High rate of tax- Banning export or import of some products- Banning trade with some selected countries- Pankaj Saikia/MES-2014
  19. 19. • Different standard of economy. •To protect local small and tiny industries. • Fear of economic colonialism by the strong countries. •Threat to society and culture. CAUSES FOR IMPOSING TRADE BARRIERS. Pankaj Saikia/MES-2014
  20. 20. WORLD TRADE ORGANISATION Promoting free trade world wide.. Pankaj Saikia/MES-2014
  21. 21. WORLD TRADE ORGANISATION (WTO) It is an international organisation form by the initiative of some developed countries and now it has 160 member countries worldwide till June 2014 Pankaj Saikia/MES-2014
  22. 22. OBJECTIVE OF WTO To promote international trade and assist the producers, exporters and importers of different countries Pankaj Saikia/MES-2014
  23. 23. WHAT WTO WANTS? It wants, there should no restriction for anyone to buy or sale anything produced by anyone around the globe. Pankaj Saikia/MES-2014
  24. 24. Debate on Free Trade Pankaj Saikia/MES-2014
  25. 25. •Developing countries most of the times oppose the idea of free world economy and refuses to remove some barriers.. •It is because------- DEVELOPING COUNTRIES AND WTO Pankaj Saikia/MES-2014
  26. 26. •Industries in developing countries are not equally developed to compete with the large MNCs. And- •Industries of developing countries who bears heavy tax burden will not be able to compete with the large producers of developed countries supported by subsidies. WHY DEVELOPING COUNTRIES OPPOSES- Pankaj Saikia/MES-2014
  28. 28. •Development in Technology. •Liberlisation of Foreign trade and Investment. FACTORS ENABLED GLOBALISATION Pankaj Saikia/MES-2014
  29. 29. •Communication and Information technology. •Production Technology. •Transportation Technology. •Packaging technology. DEVELOPMENT IN TECHNOLOGY; Pankaj Saikia/MES-2014
  30. 30. Liberlisation means removal of barriers by the countries on- • Foreign Trade, and- •Foreign investment by MNCs and foreign investors LIBERLISATION ; Pankaj Saikia/MES-2014
  31. 31. Pankaj Saikia/MES-2014 EFFECT OF GLOBALISATION
  32. 32. • Better quality products for consumers at lower price. • Wider choice. • World wide market for Indian producers • Helps in Capital Formation. • Employment outside India. • Access to better technology. POSITIVE EFFECTS OF GLOBALISATION ; Pankaj Saikia/MES-2014
  33. 33. • Brings threat to small local Producers. • Outflow of Indian currency by way of profit of MNCs. • Makes the country dependent on others. • Lack of public Interest. • Exploitation on employees. • Disrupt the social and cultural life of the people. NEGATIVE EFFECTS OF GLOBALISATION ; Pankaj Saikia/MES-2014
  34. 34. The central and the state governments in recent times taking different steps to attract foreign investment by MNCs and foreign individuals in India. Which includes - • Declaration of SEZ. • Liberlisation of Labour Laws. GOVERNMENT MEASURES Pankaj Saikia/MES-2014
  35. 35. These are some selected area which are equipped with world class facilities of electricity, water, roads, storage, recreational, educational, etc where a world class industry can set up. The companies who set up industry in such areas get tax relief for first few years. SPECIAL ECONOMIC ZONE (SEZ) Pankaj Saikia/MES-2014
  36. 36. The employers in India need obey certain rules that aims to protect the interest of workers. Recently government allows the companies to ignore many rules. Which is called Liberlisation of labour laws. LIBERLISATION OF LABOUR LAWS Pankaj Saikia/MES-2014
  37. 37. Flexibility in labour laws enables the MNCs to ignore some rules that helps the companies in keeping the size of the workforce under control. A company can hire and fire as per the seasonal variation in demand for the workforce HOW LIBERLISATION OF LABOUR LAWS HELPS THE MNCS Pankaj Saikia/MES-2014
  38. 38. ?????????? Should we support or reject globalisation………? Pankaj Saikia/MES-2014
  39. 39. GLOBALISATION IS THE WAY--- Globalisation is a process or change for mankind all over the world, where the question for accepting or rejecting is irrelevant today. Pankaj Saikia/MES-2014
  40. 40. • Screening on arrival of goods or services. • Government support to Local Companies. • Strict implementation of labour laws . •Negotiate with WTO for fairer globalisation. STRETEGY FOR FAIR GLOBALISATION; Pankaj Saikia/MES-2014