The impact of globalisation has not been uniform.
(i) Globalisation and greater competition among producers-both local and foreign producers-have been of advantage to consumers, particularly the well-*** sections in the urban areas. There is greater choice before these consumers who now enjoy improved quality and lower prices for several products. As a result, these people today, enjoy much higher standards of living than was possible earlier.
(ii) Government has also allowed flexibility in the labour laws to attract foreign investment. Instead of hiring workers on a regular basis, companies hire workers ‘flexibly’ for short periods when there is intense pressure of work. This is done to reduce the cost of labour for the company.
(iii) In India, during 1990-9.1 more than 33% of national product originated in the agricultural sector, but this share has come down to 23% in 2004-05.
