Impacts on the economy-

Economic Advancement: Globalization has greatly enhanced India’s economy by attracting foreign investments, generating employment opportunities, and growing exports, especially in industries like IT, pharmaceuticals, and outsourcing.

Inequality: Urban, skilled populations have reaped most of the benefits, causing income disparities to grow.

Job Creation and Loss: Some sectors have seen new job opportunities arise, while traditional industries have experienced job reductions as a result of affordable imports.

Infrastructure Development: International links have led to progress in transportation, communication, and energy infrastructure.

Effects of culture on society-

Cultural Exchange: Indian society has become more cosmopolitan due to exposure to different cultures, while global demand has brought traditional arts and crafts back to life.

Erosion of Conventional Values: Discussions have been triggered by foreign cultures and lifestyles regarding cultural identity and preservation.

Media and Entertainment: The worldwide media sector has impacted Indian tastes, resulting in a mix of cultural components.

Indian Diaspora: The increasing diaspora has brought back foreign influences into Indian culture and offered financial assistance through remittances.

Implications on society-

Globalization has opened up chances for social advancement, particularly for educated young people, but this is not equally accessible to all demographics.

Urbanization: The growth of economic activities has led to fast urbanization, creating challenges such as strained infrastructure, pollution, and social problems.

Globalization has expanded women’s access to education, job opportunities, and exposure to different roles, leading to empowerment.