THE IMPACT OF GLOBALIZATION ON SOCIO-ECONOMIC GROWTH OF UNDERDEVELOPED STATES AND RURAL ENTREPRENEURS IN INDIA


Ramakrishnappa M, Anandamurthy H G, Shobha J
ASSISTANT PROFESSOR, SRI SIDDARAMAIAH LAW COLLEGE,
Abstract
Globalization is the making global countries nearer to Foreign relations, diplomacy, trade, finance, governance, rules and regulations, which leads to the increase in interdependence of the countries political economies around the world, there are UDCs (Under Developed Countries) and the developed economies in the world, we can find more rural areas in the underdeveloped economies compared to developed economies. Moreover most of the countries in the world including India is connected more to each other, by political relations, Economic relations, social and ideological, export and import relations in the especially the immense rise in the flow of capital and the rapid development of world trade and relations. In one way or another, countries all over the world are becoming interconnected on each other. With the influence of MNCs (Multi National Companies) and FDI (Foreign Direct Investment) and FPIs ( Foreign Portfolio Relations) from various nations citizens and the FPIS from various countries has made India to depend more on foreign exchange rates, balance of payments equilibrium, but globalization has also influenced in most parts of the world where rural entrepreneurs are facing various challenges to overcome the competition from the foreign high quality products, lack of innovations, The study of the research paper explains the investments, constraints faced by the rural entrepreneurs in UDCS or problems faced by the rural entrepreneurs in India. Globalisation sometimes paves path for good socio-economic relations and can also pave path to bad socio-economic problems in the country.
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Journal Name :
EPRA International Journal of Socio-Economic and Environmental Outlook(SEEO)

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Published on : 2021-12-31

Vol : 8
Issue : 12
Month : December
Year : 2021
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