69th B.P.S.C. (Pre) 2023
Which of the following is not true about globalization and its impact on India?
aIt has expanded trade in goods and services
bIt has led to greater flow of Foreign Direct Investment
cIncrease in exports is greater than increase in imports✓ Correct
dNone of the above
Explanation
In 1991, India implemented economic reforms. To bring the country’s deteriorating economy and the export–import system back on track, globalization was an essential step. Globalization expanded trade in goods and services and increased the inflow of foreign direct investment (FDI). However, the increase in imports was higher than the increase in exports; therefore, statement (c) is not true and option (c) is the correct answer.
economic-social-development