Examine the impact of globalisation on a developing economy that you have studied. - Leaving Cert Geography - Question B - 2006

Globalisation has led to various impacts on India's economy, notably:

1. Economic Growth: India has experienced robust economic growth, with GDP growth rates increasing significantly since liberalisation in the early 1990s.
2. Employment Opportunities: The IT and service sectors have flourished, creating millions of jobs for skilled professionals.

These impacts indicate the broad implications of globalisation on India’s economic landscape.

The economic growth in India due to globalisation can be attributed to several factors:

• Increased Foreign Investment: Globalisation has attracted foreign direct investment (FDI) into various sectors, boosting capital accumulation and technology transfer.

• Trade Liberalisation: India has reduced trade barriers, leading to an increase in exports and imports, which has, in turn, stimulated domestic industries.

• Integration into Global Supply Chains: Indian companies have become integral parts of global supply chains, enhancing production capacity and efficiency.

These factors combined have led to significant economic development.

Conclusion

In conclusion, globalisation has had a profound impact on India, especially in terms of economic growth and employment opportunities. The case of India highlights both the benefits and challenges posed by globalisation in a developing economy.