Salient Features of Indian Economy. Indian economy is termed as the developing economy of the world. Some features like low per capita income, higher population below poverty line, poor infrastructure, agriculture based economy and lower rate of capital formation, tagged it as a developing economy in the world.
ANSWER: Diversity is the spirit of the Indian culture. India is a land where people from diverse cultures live together in unity.
Benefits: Diverse cultural perspectives can inspire creativity and drive innovation. Local market knowledge and insight makes a business more competitive and profitable. Cultural sensitivity, insight, and local knowledge means higher quality, targeted marketing.
These include but are not limited to age, ethnicity, class, gender, physical abilities/qualities, race, sexual orientation, as well as religious status, gender expression, educational background, geographical location, income, marital status, parental status, and work experiences.
Research shows that diverse work groups produce more cognitive processing and more exchange of information. Diversity brings in new ideas and experiences, and people can learn from each other. Bringing in different ideas and perspectives leads to better problem-solving.
Cultural diversity is important because our country, workplaces, and schools increasingly consist of various cultural, racial, and ethnic groups. In addition, cultural diversity helps us recognize and respect “ways of being” that are not necessarily our own.
Personality. Internal dimension: relatively unchangeable features of diversity such as mental and physical abilities, age, colour of skin, educational background, migration background/experience, nationality (international students, gender, sexual orientation)
Social Diversity. “A successful community in which individuals of different race, ethnicity, religious beliefs, socioeconomic status, language, geographical origin, gender and/or sexual orientation bring their different knowledge, background, experience and interest for the benefit of their diverse community.”
Social Diversity.
A successful community in which individuals of different race, ethnicity, religious beliefs, socioeconomic status, language, geographical origin, gender and/or sexual orientation bring their different knowledge, background, experience and interest for the benefit of their diverse community.The main sources of social diversity are ethnic origins, religions and languages. inbra-group (i.e. differentiation within a group and b) inter-group differentiation (i.e. of two or more unibound values such as castes, mbes, classes etc.
'Diversity' means collective differences among people, that is, those differences which mark off one group of people from another. These differences may be of any sort: biological, religious, linguistic etc. On the basis of biological differences, for example, we have racial diversity.
The physical map of the world displays all the continents and various geographical features across the world. Water bodies such as oceans, seas, lakes, rivers, and river basins, and landscape features such as plateaus, mountains, and deserts, are all displayed.
The geography of India is extremely diverse, with landscape ranging from snow-capped mountain ranges to deserts, plains, hills and plateaus. India comprises most of the Indian subcontinent situated on the Indian Plate, the northerly portion of the Indo-Australian Plate.
World Geography. World Geography takes students on a journey around the world in which they will learn about the physical and human geography of various regions. They will study the history of each region and examine the political, economic, and cultural characteristics of the world in which you live.
Physical geography encompasses the geographic tradition known as the Earth sciences tradition. Physical geographers look at the landscapes, surface processes, and climate of the earth—all of the activity found in the four spheres (the atmosphere, hydrosphere, biosphere, and lithosphere) of our planet.
Globalization has improved almost every thing like work culture, living standards, education, health care and charity culture in India. Family lives also have undergone a lot of change. Younger generation find changes good but the older generation feel that the impact is bad.
There are some negative impact of globalization such as this process made disparity between rural and urban Indian joblessness, growth of slum capitals and threat of terrorist activities. Globalization increased competition in the Indian market between the foreign companies and domestic companies.
1. Economic effect: As the supermarket structure arrived in India, it is very difficult for the farmers to sustain. Due to cheap import, small traders are really suffering. On the other hand, globalisation has given chance to expand Indian IT sector+ pharma sector + Agricultural processed material.
Negative Effects of Globalization. It has had a few adverse effects on developed countries. Some adverse consequences of globalization include terrorism, job insecurity, currency fluctuation, and price instability.
Globalization creates greater opportunities for firms in less industrialized countries to tap into more and larger markets around the world. Thus, businesses located in developing countries have more access to capital flows, technology, human capital, cheaper imports, and larger export markets.
Globalization has brought benefits in developed countries as well as negative effects. The positive effects include a number of factors which are education, trade, technology, competition, investments and capital flows, employment, culture and organization structure.
Some argue that globalization is a positive development as it will give rise to new industries and more jobs in developing countries. Others say globalization is negative in that it will force poorer countries of the world to do whatever the big developed countries tell them to do.
Benefits of Liberalisation and Globalisation of Indian Economy
- Benefit 1# Shift from Import-Substitution to Export-Led Growth Strategy:
- Benefit 2# Foreign Capital Inflows:
- Benefit 3# Globalisation and Transfer of Technology:
- Benefit 4# Increased Market Access:
- Benefit 5# Faster Economic Growth and Poverty Reduction:
- Benefit 6# Employment Argument:
1- Economic and Trade Processes Field
Globalization helps developing countries to deal with rest of the world increase their economic growth, solving the poverty problems in their country. In the past, developing countries were not able to tap on the world economy due to trade barriers.
