Which sector(s) in India has/have benefited maximum from globalisation?

The correct answer is Information technology.

Key Points

• The IT sector in India has significantly benefited from globalization due to the high demand for IT services and software solutions globally.
• Globalization has led to the growth of the IT industry, making India one of the largest exporters of IT services and solutions.
• Indian IT companies like TCS, Infosys, and Wipro have expanded their operations internationally, creating a substantial number of jobs.
• The sector has seen an influx of foreign direct investment (FDI), leading to increased innovation and technology transfer.
• IT services export revenue reached approximately $150 billion in recent years, showcasing the immense growth and opportunity in the sector.

Additional Information

• Globalization
  • Globalization refers to the process by which businesses or other organizations develop international influence or start operating on an international scale.
  • It includes the free movement of goods, services, and people across the world.
• Foreign Direct Investment (FDI)
  • FDI is an investment made by a firm or individual in one country into business interests located in another country.
  • In the context of the IT sector, FDI has led to greater capital inflow and technological advancements.
• IT Services Export
  • IT services export refers to the delivery of information technology services from one country to another.
  • India is a global leader in IT services export, particularly in software development and business process outsourcing (BPO).
• Innovation and Technology Transfer
  • Innovation in the IT sector includes the development of new technologies and solutions to meet global demand.
  • Technology transfer refers to the process of sharing or disseminating technology from one organization or country to another.