Globalization has had an astonishing impact on the modern world. It has allowed nations to connect with other nations through mediums such as the internet, fax machines, music and television. Globalization has also encouraged companies to take advantage of the knowledge and talents of people all over the world. Outsourcing has created thousands of job opportunities for developing nations. The flow of income into developing countries has allowed people to increase their standard of living (Friedman, 126-150). Globalization has also helped expand the consumer base of many corporations to the furthest reaches of the globe. It facilitates communication and commerce between countries in ways never thought imaginable. No longer are corporations in competition solely with corporations within its own borders. American corporations are now competing with the brilliant minds and business strategies of people from other countries. The strong competition has forced many countries to reconstruct their economies to become better suited in this global market. Some countries have shifted their economies to become more capitalistic. The effects of globalization have been prominent all over the world but you can especially see the effects in modern day India. Many of the people are highly educated and they speak fluent English. Multinationals have clearly taken note of this very profitable opportunity. In addition, the Indian political and economic structure is conducive to these corporations (www.cia.gov). The Indian economy is one of the fastest-growing in the world as it has enjoyed a steady 7 percent increase since 1997. Gross domestic product (GDP) has risen an astonishing 8.5 percent in between 2006 and 2007. These improved conditions can be credited to outsourcing and the inception of Indian software corporations. Software development is world class in India because they provide high caliber products and services. The largest corporations Tata Consultancy...
Friedman, Thomas. The World Is Flat: A Brief History of the Twenty-First Century Picador: New York, 2007
Hill, Charles L.W. Building a Market Economy in India: McGraw Hill New York 2009
Slater, Joanna. America’s Pain, India’s Gain: The Economist 2003
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