Examine five factors to promote the process of globalisation.
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Model Answer
Five Factors Promoting Globalisation:
- MNCs (Multinational Corporations): MNCs invest in countries where production is cheap and control a large part of foreign trade, driving rapid integration of markets across countries.
- Technology (IT): Rapid advancement in information technology has made it possible to organise production across countries and spread services globally, reducing distances and communication costs.
- Liberalisation of Trade and Investment: Removal of barriers to trade and investment by governments has allowed goods, services, and capital to flow freely between countries.
- WTO (World Trade Organisation): At the international level, WTO has put pressure on developing countries to liberalise trade and investment, facilitating global integration.
- Special Economic Zones (SEZs): Governments set up SEZs offering world-class facilities and tax exemptions to attract foreign investment, further boosting globalisation.
Source: Chapter 4 — What is Globalisation?, Impact of Globalisation in India, Summing Up
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Explanation
Examiners expect five distinct, labelled points. Each point should name the factor and briefly explain how it promotes globalisation — one or two sentences each is sufficient. Avoid vague statements like "technology is important"; instead state its specific role (e.g., organising cross-country production). These five factors are directly supported by the chapter passages, so use textbook language where possible.