As globalization continues to spread over the world, many countries are beginning to feel its effects. One example is the auto industry. The automobile business is evolving rapidly on a worldwide basis. Car and parts manufacturers are merging, component design and manufacture are now frequently outsourced instead of being created in-house, brands are changing and the giant automobile companies are expanding deeper into providing financial services to car buyers. Meanwhile, all of the biggest, most successful automobile industry firms have become totally global in nature. Globalization is in evidence throughout the automobile industry. Mail order brides are also a good example of the impact of globalization, by integrating more of Russian culture into the western world and vice versa.
Economically, this practice can help boost the groom’s country because many of these women choose to enter the workforce once they are married into western society. It is also financially beneficial for Russia because many of the matchmaking services are located there, bringing in money to boost their economy. Ultimately, the mail order bride industry of Russia has a positive impact on the process of globalization and the economies of both the western and non-western countries involved. The last example is one that I will analyze further in this essay, illustrating and detailing how the effects of globalization can be seen in the economic developments within India’s economy. India and the U.S. have been building their international relationships and the changes are quite noticable in a variety of India‘s markets, including the impact of foreign investments on these markets.
The Essay on Impact Of Globalization On Non Western Culture
Globalization is far reaching in this day and age. Globalization is the worldwide flow of goods, services, money, people, information, and culture. It leads to a greater interdependence and mutual awareness among the people of the world (Tischler, 2011, 2007, p. 430). One non-Western culture that has been impacted by globalization is China. An example of the impact of globalization on China is ...
The primary example of the effect of globalization on India’s economy is in their government and their military. In the last decade India’s defense budget has increased from $16.74 billion in 2004 to $20.11 billion in 2006, now ranking India among the worlds top 12 military spenders. It is also among the fourth largest economy on purchasing power parity basis and one of the fastest growing economies. In fact, it is second only after China. India ranks second in investor confidence for FDI investments as well. The Indian government has recently opened up the Defense Sector to private players, which has increased funds available for upgrading the defense sector. This gives the Indian military the ability to negotiate trades with the U.S. who export defense equipment into the country. Unfortunately the government of India faces a budget deficit of about 10% a year.
This includes the deficits of the central and state governments. In an effort to increase their tax revenues, India’s Union Ministry of Finance adopted new tax policies with considerable frequency. Some examples of these new taxes include the introduction of a national value-added tax, also known as the fringe benefits tax. The Executive Committee of Taxation is trying to promote a tax environment in India which benefits foreign investments and business development. Along with taxes, the cities are also promoting new advancements. The transportation and infrastructure of India consists of roads, railways, airports, and ports which all help support the current growing economy. According to India’s Prime Minister, India’s infrastructure sectors will require nearly $150 billion in investments over the next seven or eight years to maintain a growth and development of India at a world class level. India mainly invests in its infrastructure through public and private partnerships, and through the fair treatment of American companies investing in infrastructural projects and exporting equipment and jobs to India.
The Term Paper on Agriculture Industry Linkages in the Economy of Jammu and Kashmir
Agriculture plays an important role in contributing to socio-economic development in many countries. It is the primary source for employment, livelihood, and food security for the majority of rural people. The success of this continuation depends largely on the direct impact it has on the national economy as well as how the agricultural sector stimulates the growth of other sectors in the economy. ...
Another example of how globalization is affecting India is in the technology and entertainment industries. The telecommunications industry in India has experienced dramatic growth in the last decade. In 1991 the number of telephone lines per 100 people was only 1. However, by the end of 2004 that number had increased 9 times. Along with this, the telecom industry now provides employment to about two million people. The industry turnover in this field expanding and is currently around $13 billion. The U.S. mainly participates by selling equipment to Indian companies and by investing in such companies. They also outsource many of thier tech support employment positions to India. India’s information technology and IT-enabled services industry is a major force in India’s booming economy, achieving double digit growth rates and an industry revenue expected to top $28 billion. To add to this growth, the Executive Committee on Information Technology works closely with NASSCOM, India’s largest software association to promote industry-wide growth and market regulation.
On another technological path, the broadcasting entertainment industry is yet another booming industry among those that make up India’s economy. With over 100 million household televisions, and nearly 60% of these households using cable or satellite TV, there are nearly 40,000 cable service providers in India. The sector has benefited from a light regulatory system, even though this has also caused a great deal of piracy and signal theft throughout the country. India has also enticed foreign investment into this form of media. Foreign investment in non-news media is up by 100% since 2005 compared to India’s print news media in 2005 which only holds 26% of it’s investments in foreign investments. India continues to try and promote there pro-growth business environment.
The Essay on India, China Economic Growth
India with about 1. 2 million populations and china with about 1. 3 billon population are two big demographic and emerging countries in the world . Over a past few decade India’s combination into the economic has been accompanied by remarkable economic growth (World Bank 2011¬). India is having the 3th position on the economy in purchasing power parity (PPP) terms (The Economic Times, 2012). ...
Lastly, energy and natural resources India have also been greatly affected by globalization. The energy sector was one of the first sectors opened to foreign investment during the early 1990’s. Since then the industry has both excited and frustrated foreign investors for there have been problems with this industry such as poor transmission and distribution systems, electricity theft, and high cost energy subsidy’s. The exploration of oil and natural gas is becoming increasingly popular among foreign investors as India’s government promotes this kind of behavior amongst investors. Unfortunately, due to the competition in the industry, India has suffered major gas and petroleum strikes by workers of its energy companies.
As you can see the development and progress of India’s industries which are backed up by solid factual information compiled by pollsters and pollster like organizations. Since chapter one discusses the use of polls in detail, I believe that the article on India’s development gives us a good example of the uses of survey information and how we can measure and possibly compare the information collected to other nations around the world.
Sources:
No Author, http://www.usibc.com/policywork.php. Google search engine. Policy Advocacy and Development. U.S. India eBusiness Council. 1615 H. Street, N.W. Washington, D.C. 2006. 9/29/2007
