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Globalisation-Impact on India
What does globalisation broadly refer to in the context of economics?
Globalisation refers to the process of increasing integration and interdependence of economies across the world through the free flow of goods, services, capital, technology, and labour across national borders.
What is the concept of 'brain drain' associated with globalisation in India?
Skilled professionals emigrating to developed countries for better opportunities.
Which landmark year marked the beginning of India's economic liberalisation that opened it to globalisation?
1991 marked the beginning of India's economic liberalisation, when the government introduced the New Economic Policy (NEP) comprising liberalisation, privatisation, and globalisation (LPG reforms) in response to a balance of payments crisis.
What is the TRIPS Agreement and how does it affect India under globalisation?
Trade-Related Intellectual Property Rights agreement affecting India's patent laws.
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