NCERT Economics Class 10 | Factors That Have Enabled Globalisation
Topic & sub-topics covered: Factors That Have Enabled Globalisation: Globalisation and The Indian Economy (All single detail notes are exam-oriented).
We have discussed in-depth and exam-oriented pointers that can be asked in the board exam of class 10th about “Factors That Have Enabled Globalisation” which is taken from the NCERT Economics notes for class 10th chapter 4 “Globalisation and The Indian Economy“.
Download the NCERT Economics for Class 10th Chapter 4 Globalisation and The Indian Economy PDF
“Download the NCERT Economics for Class 10th Chapter 4 Globalisation and The Indian Economy PDF” is essential for students. It offers insights into globalization’s impact on India’s economy, aiding comprehension of economic integration’s nuances. Students gain access to in-depth analyses, case studies, and theories, enhancing their understanding.
NCERT Class 10 Economics Chapter 4 Globalisation and the Indian Economy Class 10 Notes PDF
The PDF facilitates convenient learning, covering globalization’s historical context, theoretical frameworks, and practical implications for India. It serves as a valuable reference for educators, policymakers, researchers, and business leaders, providing a comprehensive understanding of globalization’s effects on India’s economic development. Accessing this resource empowers stakeholders to navigate globalization’s complexities effectively, fostering informed decision-making and strategic planning.
Factors that Have Enabled Globalisation
Technology
1. Role of Technology in Globalization:
- Rapid advancements in technology, particularly in transportation and information communication, have been pivotal in driving the process of globalization.
2. Impact of Transportation Technology:
- Improvements in transportation technology over the past fifty years have enabled faster delivery of goods across long distances at reduced costs, facilitating global trade and integration.
3. Developments in Information and Communication Technology (ICT):
- Remarkable advancements in ICT, including telecommunications, computers, and the Internet, have revolutionized communication and information exchange on a global scale.
4. Utilization of Telecommunication Facilities:
- Telecommunication facilities such as telegraph, telephone (including mobile phones), and fax are extensively used for global communication, enabling instant access to information and remote communication.
5. Role of Satellite Communication:
- Satellite communication devices have further facilitated global communication by providing reliable and widespread connectivity across the world.
6. Integration of Computers and the Internet:
- Computers have become ubiquitous in various fields of activity, while the Internet has revolutionized information access and sharing, allowing individuals to obtain and share information on diverse topics.
7. Functionality of the Internet:
- The Internet enables instant electronic communication through email and voice communication (voice-mail) at minimal costs, connecting individuals worldwide and transcending geographical barriers.
8. Impact of Information and Communication Technology (ICT) on Production:
- ICT has played a significant role in spreading out the production of services across countries, facilitating global outsourcing and the establishment of global value chains.
9. Global Reach of Services:
- Information and communication technology (ICT) has enabled services to be produced and delivered across countries, expanding the reach and accessibility of services on a global scale.
10. Implications of ICT in Globalization:
- The widespread adoption of information and communication technology (ICT) has accelerated the process of globalization, transforming the way businesses operate, and individuals communicate and access information worldwide.
Liberalisation of Foreign Trade and Foreign Investment Policy
1. Impact of Import Tax:
- The introduction of an import tax on Chinese toys in India would result in higher prices for buyers, making Chinese toys less competitive in the Indian market.
- Consequently, imports from China would decrease, leading to a boost in the domestic toy industry in India.
2. Concept of Trade Barriers:
- Tax on imports serves as an example of a trade barrier, as it imposes restrictions on foreign goods entering the domestic market.
3. Purpose of Trade Barriers:
- Governments use trade barriers to regulate foreign trade, determining the types and quantities of goods permitted into the country.
4. Historical Perspective on Trade Barriers in India:
- Post-independence, India implemented trade barriers and restrictions on foreign investment to protect domestic producers from foreign competition, allowing only essential imports.
5. Rationale for Trade Protection in Early Stages:
- During the 1950s and 1960s, India imposed trade protection measures to nurture emerging industries, preventing them from being overshadowed by foreign competition.
6. Shift in Trade Policy in 1991:
- In 1991, India underwent significant policy changes, transitioning towards a more liberalized trade regime to enable domestic producers to compete globally and improve their quality standards.
7. Support for Liberalization:
- The decision to liberalize trade was endorsed by international organizations, recognizing the potential benefits of competition in enhancing domestic productivity and efficiency.
8. Removal of Trade Barriers:
- Liberalization involved the removal of trade barriers and restrictions on foreign investment, allowing for easier import and export of goods and the establishment of foreign companies in India.
9. Concept of Liberalization:
- Liberalization refers to the removal of government-imposed restrictions on trade and investment, granting businesses greater autonomy in their import and export decisions.
10. Implications of Liberalization:
- With the liberalization of trade, businesses have more freedom to engage in international trade, leading to increased competition, efficiency, and economic growth.