Globalisation and The Indian Economy Class 10 Notes: CBSE 10th Social Science Chapter 4 Economics, Download PDF

Globalisation and The Indian Economy Class 10 Notes: Globalisation has had a significant impact on the Indian economy. It has opened up opportunities for trade and foreign investment, leading to economic growth. The integration of Indian industries with the global market has increased competition, resulting in improved product quality and efficiency. However, globalisation has also brought challenges such as unequal distribution of benefits and the vulnerability of Indian industries to global economic fluctuations. Overall, globalisation has transformed the Indian economy, presenting both opportunities and challenges in its path towards Globalisation and The Indian Economy.These CBSE Class 10th Economics Chapter 4 Globalisation and The Indian Economy chapter notes cover the important topics from this chapter. It will help you understand the essence of the whole chapter and perform better in your tests and board examination.  

CBSE 10th Social Science Economics Chapter 4 Globalisation and The Indian Economy Class 10 Notes

Please note that the whole chapter will not be assessed in the board exam and only the portion to be assessed has been provided here.

To check the complete details, check CBSE Class 10 Social Science Syllabus 2023-24

What is Globalisation?

• Globalisation is the process of rapid integration or interconnection of countries. MNCs are playing a major role in the globalisation process.
• More and more goods and services, investments and technology are moving between countries.
• There is one more way in which the countries can be connected. This is through the movement of people between countries.

Factors That Have Enabled Globalisation

Technology

• Rapid improvement in technology has been one major factor that has stimulated the globalisation process. 
• Technology has made possible much faster delivery of goods across long distances at lower costs. 
• The developments in information and communication technology has provided people to access information in a few clicks within seconds.  

Liberalisation of Foreign Trade and Foreign Investment Policy

• Removing barriers or restrictions set by the government on trade is known as liberalisation. When the government imposes fewer restrictions than before, it is said to be more liberal.
• With liberalisation of trade, businesses are allowed to make decisions freely about what they wish to import or export.
• Trade barrier: Some restrictions that have been set up by governments. Tax on imports is an example of a trade barrier.
• The government can use trade barriers to increase or decrease (regulate) foreign trade and to decide what kinds of goods and how much of each should come into the country. 

Also Read:

CBSE Class 10 Syllabus (All Subject)

Download CBSE Class 10 Social Science Book PDF

CBSE Globalisation and The Indian Economy Class 10 Notes PDF Download    

Related:

CBSE Globalisation and The Indian Economy Class 10 Mind Map for Chapter 4 of Social Science Economics, Download PDF