Choose the given statement is True/False:

Globalisation is extremely beneficial for our country.

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True

False

answer is A.

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Detailed Solution

It is True. Globalisation is indeed highly beneficial to our country as it has a lot of benefits for the well-off customers as well as those who have the skill and education that employment opportunities generated by multinational corporations require. Producers in India can improve their performance because of the technology brought in by multinational corporations. It creates a unified market and leads to the creation of new jobs; hence we can say that it leads to the economic development of a country. However, many small producers and industrialists who hire a lot of uneducated and unskilled Labor close down because of the immense competition posed by these multinational corporations. Looking at both sides of the coin, it is, therefore, necessary to have fair globalisation.

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