]]>
LearnNext
Get a free home demo of LearnNext

Available for CBSE, ICSE and State Board syllabus.
Call our LearnNext Expert on 1800 419 1234 (tollfree)
OR submit details below for a call back

clear

Globalization - Introduction

41,327 Views
Have a doubt? Clear it now.
live_help Have a doubt, Ask our Expert Ask Now

Globalization - Introduction - Lesson Summary

India has changed tremendously in the last two decades.

Till the 1990’s, choice of goods was limited to the products produced in the country. Today, there is a wide range of commodities for the consumers to choose from in India. One of the main reasons for such rapid transformation is the spread of MNCs. The rise of MNCs resulted in the integration of production, trade, investment and markets across the globe.

The seeds of such MNC’s were sown during colonial times. In the 18th and 19th centuries, Europe-based companies carried out trade with their colonies in Asia and Africa. However, during the colonial period, the colonies produced raw material and food stuff, while the colonising countries produced finished goods.  

From 1950’s, new MNCs grew in North America, Europe and Japan. They wanted to spread to areas where they could produce their goods cheaply and find markets for them. Countries in Asia, Africa, and Central and South America were the ideal places for these MNC’s to set up offices and factories as Labour and other resources were cheap with a huge market potential.

One there was liberalization of policies and trade and production barriers were lifted, MNC’s were able to enter Asian, South American and African countries to set up factories to exploit cheap labour and large markets. Production and markets became global.

Comments(0)

Feel the LearnNext Experience on App

Download app, watch sample animated video lessons and get a free trial.

Desktop Download Now
Tablet
Mobile
Try LearnNext at home

Get a free home demo. Book an appointment now!

GET DEMO AT HOME