Globalization impacted Indian markets from "summary" of A Business History of India by Tirthankar Roy
Globalization has had a profound impact on Indian markets over the years. The process of globalization can be traced back to the early colonial period when European powers began to establish trade connections with India. This led to the integration of Indian markets with global trade networks, bringing about significant changes in the way business was conducted in the country. One of the key ways in which globalization impacted Indian markets was through the introduction of new technology and production methods. European powers brought advanced technology to India, which helped to improve productivity and efficiency in various industries. This, in turn, led to increased trade and economic growth in the country. Globalization also played a role in shaping the structure of Indian markets. The influx of foreign goods into the Indian market led to increased competition, forcing local businesses to innovate and adapt in order to survive. This competition also helped to improve the quality of goods and services available to consumers, ultimately benefiting the Indian economy as a whole. Furthermore, globalization allowed Indian businesses to expand their reach beyond the borders of the country. With increased connectivity and trade opportunities, Indian companies were able to tap into new markets and establish themselves on a global scale. This not only helped to boost the Indian economy but also contributed to the overall growth and development of the country.- Globalization has had a transformative impact on Indian markets, bringing about changes in technology, production methods, market structure, and business practices. The integration of Indian markets with the global economy has opened up new opportunities for growth and development, helping to position India as a key player in the global marketplace.
