Impact of Globalisation on Unemployment and Inequality in India

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Published: Sep 3, 2024
DOI: https://doi.org/10.29070/zzj5p298
Keywords:
Globalization, unemployment, earnings inequality, financial growth, labor markets, technological development

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Authors

Samarth Mittal

Student, Class 11th, DPS, Yamunanagar, Haryana

Abstract

Globalization in the Indian economy has severely affected unemployment and income inequality. The study deals with the impact of India’s economic integration on the global economy and income distribution in the country’s labor market. Economic growth, more employment opportunities in industry and all technological developments, have been enhanced by globalization. However, benefits were not distributed equally, and inequality rose as a result. Many low-skilled people are unemployed or underemployed because traditional manufacturing and agriculture have not been able to keep up with the growth of service and IT industries, which despite creating many high-skilled positions, now have wide local differences Urban areas have experienced greater economic gains than rural areas. According to the results, given the strong relationship between globalization, employment and inequality, policymaking should focus on achieving more equitable growth in India To reduce the impact of globalization unevenness and unemployment, it is important to prevent skills gaps, strengthen social security and encourage equitable regional development

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Issue

Vol. 19 No. 1 (2024): International Journal of Information Technology and Management (IJITM)

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