[[1]] industries have been the most hard hit by external competition.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

Small-scale industries have been the hardest hit by external competition.
Though we generally tend to talk about globalisation with a positive outlook, it does not imply that industries and people’s lives were hard hit by the changes happening worldwide as nations were interconnected through trade. Especially for the small-scale industries in developing countries, globalisation has been a bane. Small-scale industries that previously produced dairy products, electrical appliances, oils and other regional crafts and clothes suffered many challenges as a cheaper and wide variety of materials invaded the market. Most of these industries had to shut down, and many were jobless as big MNCs took over their place in the market.

Watch 3-min video & get full concept clarity