Globalisation is not providing to be a fair deal. Fair globalisation would create opportunities for all and also ensure that benefits of globalisation are shared better.
(a) Government policies must protect the interests of not only the rich and powerful but of all the people in the country.
(b) Government should ensure that labour laws are implemented properly and workers get their due share.
(c) Small producers should be supported to improve their productivity and performance so that they can compete for international market.
(d) Government can use trade and investment barriers, if needed.
(e) Government should be ready to negotiate at WTO for ensuring fairer rules.
(f) If necessary, government should align with countries with similar interests to oppose the domination of major and powerful players in WTO.

Globalisation is indeed a fun because of rapid overall changes in the field of production, consumption, trade, banking, market etc.
(a) Foreign investment by MNCs in many countries around the world has been on the rise thereby stimulating overall growth.
(b) Not only that, foreign trade between countries is rapidly rising, with goods travelling faster from one market to another.
(c) Consumer, today, is the king, as he has a large variety of products to choose from and enjoy improved quality at a lower price. All this is attributed to the onset and success of globalisation.
(d) Producers of today are getting an opportunity to reach beyond the four walls of their domestic boundary. They face cut-throat competition, which acts as a stimulus to produce high quality and competitive global products.

From employers point of view: They prefer to employ workers in flexible basis, i.e., employ them whenever required. It means that the workers are employed on temporary basis for the period when they are required. In case, extra work is there for short period, the workers can be paid overtime.
From workers point of view: They always prefer permanent employment so that they can have a regular income to look after their families along with the other benefits like provident fund, gratuity etc.

Indeed the development in the field of information and communication technology has been very remarkable. Information and communication technology has facilitated the spread of production of services across the globe. Telecommunication facilities like telephone, mobile phones and fax are used to contact one another around the world, to access information instantly and to communicate from remote areas. It is globalisation, which has created new opportunities for companies providing services, especially those involving information technology. Call centres across the country are an example. Not only that, a number of other services like data entry, accounting other administrative tasks are now being done cheaply in India and are exported to the developed countries.

The impact of globalisation on India are:
(a) It has enabled some large Indian companies to emerge as MNCs themselves such as Tata Motors, Infosys.
(b) It has also created new opportunities for companies providing services like information technology.
(c) Greater competition among producers has been of special advantage particularly to the well-off sections of consumers in the urban areas. They have greater choice and enjoy improved quality and lower prices for various products. Thus, they are enjoying a higher standard of living than was possible earlier.
(d) Impact of globalisation has not been uniform on the producers and workers. MNCs have increased their investment in India and they have been beneficial for them. Their products have a large number of well-off buyers. In these industries and services, new jobs have been created and also the companies supplying raw materials to these industries have prospered.
(e) Several of the top Indian companies have been able to benefit from the increased competition. They have invested in new technology and production methods and raised the standard fo their products. Some of them have gained from successful collaboration with foreign companies.

The effects of globalisation on small producers and workers are:
(a) Small producers and workers have been hit hard the most due to the rising competition. Several of the small units have been shut down thereby rendering many workers jobless.
(b) Large MNCs especially in the garment industry in Europe and America, order their products from Indian exporters.
(c) They look for the cheapest goods in order to maximize their profits.
(d) So for getting the large orders from them, the exporters try to cut labour costs - wages given are low, and workers are forced to work overtime to make both ends meet.
(e) Though MNCs are able to make large profits the workers are denied their fair share of the benefits of globalisation.

The advent of globalisation and the policy of liberalization have opened the market to the world players. It has given rise to wide choice of goods and services to the consumer.
MNCs have played a vital role in the world market. Foreign trade and investment in the country has increased. It has also resulted in exchange of technology between countries. In recent times, technology in the areas of telecommunications, computers and internet has been changing rapidly.
Globalization has also created new opportunities for companies providing services, particularly those involving in IT. Better job opportunitites for people have given rise to migration.
Globalization has also enabled some large Indian companies to emerge as multinationals For example, Tata Motors, Infosys, Ranbaxy have expanded their operations around the world.

The exchange of goods among people, states and countries is referred to as trade.
Importance of International Trade:
(i) International trade of a country is an index to its economic prosperity.
(ii) It is considered the economic barometer for a country. If the balance of international trade is favourable, a country will be able to earn more foreign exchange.
(iii) As no country is self-sufficient in all resources it cannot survive without international trade.
(iv) Countries have trade relations with the major trading blocks.
(v) Exchange of commodities and goods have been superseded by the exchange of information and knowledge.

(a) A Multi-National Corporation (MNC) is a company that owns or controls production in more than one nation. The goods and services are produced globally. They production process is divided into small parts and spread out across the globe.
(b) Tata Motors (automobiles), Infosys (IT), Ranbaxy (medicines), Asian Paints (Paints), Sundaram Fasteners (nuts and bolts), etc. are some of the Indian companies which are spreading their operations worldwide as MNCs. Harmful effects of MNCs to a host country:
(1) Small producers compete or perish: MNCs have posed major challenges for a large number of small producers and workers. The small manufacturers have been hit hard due to competitions. Several of the units have shut down rendering many workers jobless. Batteries, taps, tyres, dairy-products, vegetable oil are some of the industries that are badly affected due to stiff competition from MNCs.
(2) Uncertain employment: In order to maximize the profit MNCs look for a location with minimum labour costs. Faced with competition, most employers these days prefer to employ workers on temporary basis so that they do not have to pay workers these days prefer to employe workers on temporary basis so that they do not have to pay workers for the whole year. This has changed the lives of workers and their jobs are no longer secure.
(3) The Condition of employment: Workers also have to put in very long working hours and work night shifts on a regular basis during the peak season. Wages are low and workers are forced to work overtime to make both ends meet. The workers are denied their fair share of benefits and no longer get the protection that they enjoyed earlier, for example, the Indian garment export industry often deny their workers their fair share of benefits. 

(i) Effect of Functioning of WTO on Indian Economy:
The developing countries like India feel cheated as they are forced to open up their markets for the developed countries but are not allowed access to the markets of developed countries.
(ii) Favourable Impacts of WTO:
WTO creates environment such as international trade among member countries in an open, uniform and non-discriminatory manner.
(iii) Unfavourable Impacts of WTO :
WTO is dominated by the developed countries, especially by America, European Union and Japan etc. Developing and poor countries are seldom consulted until the rich nations complete their negotiations.