Globalisation refers to the unification of the economy of one country with that of another country. Globalisation has been advantageous to consumers as well as to producers. In India, globalisation has made establishment of Multi National Corporations possible. Presence of MNCs in India has a positive effect on the Indian economy as the competition among the producers has increased, leading to an improvement in the production capacity of the industries. This has helped the producers as well as the consumers. Now the markets are flooded with variety of products. Consumers’ independence has increased. They can choose goods out of a variety of goods available in the market, which was not possible before Globalisation.
For instance, when we go to any shopping mall today, we find that various national and international brands are available in the market giving tough competition to each other.