economicsWhich of the following is not a good effect of Globalisation on India?

Which of the following is not a good effect of Globalisation on India?


  1. A
    Increase in competition among the producers.
  2. B
    Lower prices of products.
  3. C
    Improved quality of products.
  4. D
    Small producers perished. 

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    Solution:

    Small producers failed to match the competition with international producers and perished, which was not a good effect of globalisation on India. With globalisation, there was an increase in the market for producers. This increased their competition, but at the same time, it also reduced their prices. The big and foreign companies mass-produced products with newer technology and lower cost. The small and local producers could not match these costs. Consumers also started preferring low-cost, mass-produced goods over locally-produced goods. Thus, small producers perished from the market. Many times the government imposes tariffs to protect these small producers from competition.   
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