Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:

Global Footprint :

Owing to globalisation, you might fed many Indian companies have expanded their wings to many other countries. For example, ONGC Videsh, a subsidiary of the Indian public sector enterprise, Oil and Natural Gas Corporation engaged in oil and gas exploration and production has projects in 16 countries. Tata Steel, a private company established in 1907, is one of the top ten global steel companies in the world which have operations in 26 countries and sell its products in 50 countries. It employs nearly 50,000 persons in other countries. HCL Technologies, one of the top five IT companies in India has offices in 31 countries and employs about 15,000 persons abroad. Dr Reddy's Laboratories, initially was a small company supplying pharmaceutical goods to big Indian companies. Today it has manufacturing plants and research centres across the world.

The main reason behind Indian Companies started working in many other countries :

Options:

Foreignisation

Indianisation

Westernaisation

Globalisation

Correct Answer:

Globalisation

Explanation:

The correct answer is option (4) : Globalisation

Globalisation refers to the increasing integration and interdependence of global economies, which has enabled companies to expand their operations beyond national borders. This has facilitated Indian companies to invest, operate, and compete internationally.