Topic – Indian Economy : Issues
6) Evaluate whether India is well placed to benefit from the new face of globalisation which is trade and technology driven?(250 words)
Why this question
The article discusses the changing nature of globalisation and how well placed India is in taking advantage of the changed scenario, and the kind of policy changes required. The question would enable us to understand the changing nature of globalization and enhance our understanding of why we need to reap our demographic dividend.
Key demand of the question
The question expects us to examine the changing nature of globalisation in India and discuss how prepared India is likely to be impacted by this. We need to discuss the changes in trade, technology and capital flows and also the lacunae in India’s ability to adjust to these changes. Finally, we need to provide suggestions in terms of changes in policy which are required.
Evaluate – When you are asked to evaluate, you have to pass a sound judgement about the truth of the given statement in the question or the topic based on evidences. You have to appraise the worth of the statement in question. There is scope for forming a personal opinion here.
Structure of the answer
Introduction – Briefly explain what do we mean by the changing nature of globalisation.
Body – Discuss the changes in trade, technology and capital flows and how India is geared to adjust to those changes. Discuss the gaps which would prevent India from reaping full benefit of the favourable situation that India finds itself in. Next, we need to discuss the changes in policy required such as the need for human capital development etc in order to adjust and reap its demographic dividend.
Conclusion – Give your view on how well India is placed to reap benefit and discuss the way forward.