well as the politicians on the other hand. Worldwide telephone traffic has tripled since 1991. Particability of Concept of Special Economic Zone. Knowledge Economy: Problems and Prospects. However the Gross Domestic Product (GDP) growth accelerated.3 in 1992- 93, and.2 1993-94. Another criticism they receive is that they exploit 3rd world nations while harping on the importance of helping these nations out of poverty. The paper then puts the context around which the economic reforms were taken within India 's recent development history. All the above and what is related conform a complex formula with uncountable and changeable factors to figure out. MNC's provide money for additional investments like buying new machines for faster production and they might bring with them the latest technology for production. This was where globalization began. After understanding this greater context the paper reviews several recent studies that have examined whether the economic growth in India has come at the expense of growing inequality.
The policies should be framed to protect the interests of all the people in the country, such as labour laws are properly implemented and thus the workers get their rights. India's GDP growth rate can be seen from the following graph since Independence. Expanding industry fast, by at least 10 per year to integrate not only the surplus labour in agriculture but also the unprecedented number of women and teenagers joining the labour force every year. Western nations, on the other hand, are often criticized because of their pushing for a more global movement of goods, labor and resources while protecting their own borders from competition. Moreover, globalization has enabled some large Indian companies to emerge as multinationals themselves! Although this is not yet a replacement to the American-style capitalism that dominates the world, this new economic movement could play a large role in the future as a replacement to the current global economy. Advantages: The stock of foreign direct investment resources has increased rapidly as a percentage of gross world product in the past twenty years. The global economy specifically for you for only.38.9/page, order now, we will write a custom essay sample on The global economy specifically for you. And it never looked back and it has been an integral part of world society ever since. Role Of Indian Economy In Global Market Economics Essay Internet. Retrieved 19:57, September 06, 2018, from.