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"The Meaning of life is to LIVE!!!" - KokDahkJe3

Change of the Direction of Growth

  • Date Submitted: 05/01/2012 03:27 AM
  • Flesch-Kincaid Score: 46.7 
  • Words: 280
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The word "goalisation", which connotes where all the nations join their hands d create a kind of synergy to do business or any commercial, cultural or educational activities, in which every participant nation should beneficiary. Globalisation in a nutshell is "one for all and all for no. The purpose behind globalisation has been to open the portals for each and every nation in different fields. A nation can buy from other nation and sell to other nation.

Globalisation means many things to the hoi polloi, particularly in India, which is the to probably the widest range of anti-globalisation groups in the world Indian economy needs globalisation because it can reduce the poverty also increase India's forex level which means Indian can manage economic crisis through it.

Globalization in India had a favorable impact on the overall growth rate of the economy. The pickup in GDP growth has helped improve India's global position from the 8th position in 1991 to 4th place in 2001.

Due to globalisation, the Gross.Domestic Product (GDP) increase with meteoric speed. GDP is the value of all goods and services produced in a country during a given period. Today, India's rank is 10th in the top ten economies (GDP). The USA is numero uno in this. India is 5th largest economy in the world (ranking above France, Italy, the United Kingdom and Russia)

Due to globalisation, not only the GDP has increased but also the direction of growth in the sectors has also been changed. Earlier the maximum part of the GDP in the economy was generated from the primary sector but now the service industry is devoting the maximum part of the GDP.

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