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Benefits of globalization(Insert Name)(Institutional Affiliation)Benefits of globalizationGlobalization can be said to be the facilitization of free flow of business and trade in general across all nations in the globe through having in place international financial systems (Harris, & Seid, 2004). Therefore, the cost of production becomes relatively cheap through reduction of transboarder flow of capital, goods as well as technology.India is a nation which has greatly benefited from globalization. Being a developing country, it has benefited from globalization though in the nineteenth centuries had its own share of problems. Indian economy was constrained by these barriers in trade and investment thanks to the new regime that ensured that India opened up to trade globally (Bishop & Adams, 2011). In the nineteenth century, India`s economy was so bad that they were almost defaulting on loans. When this challenge showed up, a review of domestic and external sector policies and measures were taken like scrapping of industrial license regime, amendments of monopolicies and restrictive trade, reduction in tariffs to those that are market determined that is exchange rates-that are determined by supply and demand. Over the years, there has now been liberalization of current account transactions. More and more sectors have opened up for foreign direct investment as well as facilitasition of entry of foreign investors in telecom, roads, air transport, insurance and other key sectors of the economy (Harris, & Seid, 2004)....