Globalization is the social and moral change and development that is experienced practically in the daily life of a human being in all aspects of world trade, advanced communication, finance and economy, information technology and technology transfer, capitalism, health care, people and knowledge, labor and environment. The exports of India did not develop since 15 years of independence even though usage of tea, cotton, and jute are manufactured at a higher rate in India and also bestowed with its essential resources for production.
These products were also a great demand in the whole world as they are daily essentials. World Trade Organisation(WTO) has estimated that India's contribution in the world trade accounts to 2.7% by 2015 which was only 1.2% in 2006('œWTO | Trade policy review - India 2002,'). Till reform on liberalization was passed on 1991, India was solitary in the world market in its economy(Sahoo, 2014). 200 million dollars was the estimated annual turn over by FDI due to capital flow, deposits and borrowings of non-residential Indians, between 1985 and 1991 and the value was 63.08 billion in 2003. Most of the trading partners are from US, Japan, UK, EU(Srinivasan, 2002; Dr. Anil Kumar, 2015).
Dinesh Adhikari""Impact of Globalization on The Quality of Life in India""
Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-4 , June 2018,
URL: http://www.ijtsrd.com/papers/ijtsrd14230.pdf
Direct Link - http://www.ijtsrd.com/humanities-and-the-arts/social-science/14230/impact-of-globalization-on-the-quality-of-life-in-india/dinesh-adhikari
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