What are the advantages and disadvantages of industrial policy in India?

Answer 1

ADVANTAGES

1. Intergration of markets: Markets are interlinked- European Union

2. Cheaper Products for Consumer: Trainers are Cheap

3. Leads to Outsourcing in some cases which can lead to job loses: Moving call centers to India.

4. Lowering of international Bariers: Now European Union can Trade with ASEAN and NAFTA.

5. Providing jobs in LEDC's and help develop economy (less Economically Developed Countries)

6. Helps prevent market Saturation in a specific market: stops there being too much competitors in one place e.g too much call centres in UK, so move to India

7. Standardisation of product: the same products can be seen in some many places - e.g coke and McDonalds

DISADVANTAGES

1. Intense Competition

2. Widening of Gap between rich and poor countries

3. Harder for Smaller businesses to establish themselves

4. Exploitation of workers: Paying the workers in LEDC's a fraction of what would be paid in to workers in MEDCs.

5. Income generated in Host country is not always spent in the same country - money earned from supplying cheap call centres in India will not be spent in India but maybe in UK or US.

Answer 2

over all advantages and dis advantages of industrial revelution