Question

How has globalization impacted India's integration into the global economy?

1. India has become more interconnected with the global economy, leading to increased vulnerability to global economic fluctuations.
2. Greater exposure to international trade has resulted in India's increased role in shaping global trade policies.
3. India's active participation in global governance institutions has elevated its influence in international economic matters.
4. Enhanced access to international markets has strengthened India's position as a global economic powerhouse.

• A. 1, 4
• B. All of these
• C. 3, 4
• D. 2, 3

Answer 1

Answer:

B. All of these

Impact of globalization in India's integration into the global economy

• Increased vulnerability to global economic fluctuations:
  
  • Globalization has increased India's reliance on the global economy, making it more susceptible to economic fluctuations and market instabilities
  • While this interconnection has facilitated the inflow of foreign investments and technologies, it has also exposed India to the volatilities of the global market, requiring the nation to adopt strategic measures to mitigate potential risks and ensure economic stability
• Greater exposure to international trade 
  • Globalization has expanded India's participation in international trade, allowing the nation to assert its influence in shaping global trade policies and regulations.
  • With a substantial increase in exports and imports, India has actively engaged in trade negotiations and discussions, advocating for fair trade practices, tariff reductions, and the removal of trade barriers
• India's active participation in global governance institutions
  
  • Through active involvement in various global governance institutions and forums, India has enhanced its prominence in international economic matters.
  • Participation in organizations such as the World Trade Organization (WTO), International Monetary Fund (IMF), and G20 has enabled India to contribute to critical discussions on global economic policies, financial regulations, and international monetary cooperation
  • It allows the country to exert its influence on shaping the direction of the global economic landscape.
• Enhanced access to international markets 
  
  • Globalization has facilitated India's access to international markets, enabling the nation to showcase its diverse range of goods and services globally.
  • Increased market access has propelled India's economic growth, reinforcing its position as a global economic powerhouse.
  • This enhanced access has fostered economic development and also increased India's influence and competitiveness in the global economy.