Author(s): Ratish Gupta, Shruti Maheshwari
The worldwide exchange and supply of goods, providing employment, capital and data by different countries is known as Globalisation. The free trade allows countries to exchange these goods and services across the globe with lower restrictions. Globalisation seeks to increasing interdependence across nations, it provides the opportunity to developing nations to upgrade their technology, produce more efficiently, provide excess raw materials, etc., to other nations. Thus, it ultimately raises the living conditions of people. On the other hand, it provides the developing nations a market for their goods. Also, the reduction in tariffs allows outsourcing huge amount of work and reducing their cost of production.