{"id":246211,"date":"2026-06-24T17:59:21","date_gmt":"2026-06-24T12:29:21","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=246211"},"modified":"2026-06-24T18:01:11","modified_gmt":"2026-06-24T12:31:11","slug":"jaiib-ie-ifs-globalization-impact-on-india","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/","title":{"rendered":"Attempt JAIIB IE and IFS Globalization &amp; Its Impact on India Quiz &amp; Free PDF"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#What_is_globalization\" >What is globalization?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#Download_Practice_Quiz_on_Globalization_and_Its_Impact_on_India\" >Download Practice Quiz on Globalization and Its Impact on India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#Attempt_Quiz_on_JAIIB_IE_IFS_Globalization_and_Its_Impact_on_India\" >Attempt Quiz on JAIIB IE &amp; IFS Globalization and Its Impact on India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#Sign_Up\" >Sign Up<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#Login\" >Login<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#Forgot_Password\" >Forgot Password<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#i\" >&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#How_has_globalization_evolved_over_time\" >How has globalization evolved over time?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#What_is_the_role_of_WTO_in_globalization\" >What is the role of WTO in globalization?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#How_did_globalization_start_in_India\" >How did globalization start in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#How_has_globalization_impacted_Indias_economy\" >How has globalization impacted India&#8217;s economy?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#How_has_globalization_benefited_Indian_agriculture\" >How has globalization benefited Indian agriculture?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#How_does_globalization_benefit_consumers\" >How does globalization benefit consumers?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#What_is_fair_globalization\" >What is fair globalization?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#What_is_deglobalization\" >What is deglobalization?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#What_are_the_recent_examples_of_deglobalization\" >What are the recent examples of deglobalization?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#What_is_protectionism\" >What is protectionism?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#What_are_the_effects_of_protectionism\" >What are the effects of protectionism?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#What_is_the_difference_between_globalization_and_deglobalization\" >What is the difference between globalization and deglobalization?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#FAQs\" >FAQs<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>Globalization is one of the most important topics in the JAIIB IE and IFS syllabus. It explains how countries, businesses, people, technology, and capital are becoming increasingly connected across the world. Understanding globalization helps candidates learn about international trade, economic growth, foreign investment, protectionism, and current global economic trends. To strengthen your preparation, attempt the JAIIB IE and IFS Globalization Impact on India Quiz and download the free PDF for quick revision of important concepts, definitions, examples, and exam-oriented questions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_globalization\"><\/span>What is globalization?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Globalization refers to the increasing integration of countries through trade, investment, technology, information, and movement of people. It allows nations to work together and participate in international economic activities with fewer restrictions. Globalization promotes the exchange of goods, services, knowledge, and culture across borders.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Free flow of goods and services<\/li>\n\n\n\n<li>Cross-border movement of capital<\/li>\n\n\n\n<li>Transfer of technology and knowledge<\/li>\n\n\n\n<li>Movement of labour and people<\/li>\n\n\n\n<li>Cultural exchange among countries<\/li>\n\n\n\n<li>Greater economic integration<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><th>Component<\/th><th>Description<\/th><\/tr><tr><td>Goods<\/td><td>International trade of products<\/td><\/tr><tr><td>Services<\/td><td>Education, tourism, healthcare, communication<\/td><\/tr><tr><td>Capital<\/td><td>FDI, FPI and foreign investments<\/td><\/tr><tr><td>Labour<\/td><td>Cross-border movement of workers<\/td><\/tr><tr><td>Technology<\/td><td>Sharing of innovation and knowledge<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.oliveboard.in\/jaiib-mock-test\/?ref=contac-jieifs-gii-pq\" target=\"_blank\" rel=\"noreferrer noopener\">Attempt A free JAIIB Mock Test Now!<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Download_Practice_Quiz_on_Globalization_and_Its_Impact_on_India\"><\/span>Download Practice Quiz on Globalization and Its Impact on India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Prepare effectively for the JAIIB IE &amp; IFS examination with a dedicated practice quiz on Globalization and Its Impact on India. The quiz PDF covers important topics such as the concept of globalization, India&#8217;s economic reforms, WTO, foreign trade, FDI, fair globalization, protectionism, and recent trends in deglobalization.<\/p>\n\n\n\n<p class=\"has-text-align-center has-medium-font-size\"><strong><a href=\"https:\/\/www.oliveboard.in\/jaiib-ie-and-ifs-topic-wise-practice-quiz-pdf\/?ref=contac-jieifs-gii-pq\" target=\"_blank\" rel=\"noreferrer noopener\">Download PDF<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Attempt_Quiz_on_JAIIB_IE_IFS_Globalization_and_Its_Impact_on_India\"><\/span>Attempt Quiz on JAIIB IE &amp; IFS Globalization and Its Impact on India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Test your knowledge of globalization and related economic developments through this quiz, which has been designed to help candidates understand the impact of globalization on India&#8217;s economy, agriculture, trade, technology, and employment.<\/p>\n\n\n\n<!DOCTYPE html>\n<html lang=\"en\">\n<head>\n<meta charset=\"UTF-8\">\n<link rel=\"stylesheet\" href=\"https:\/\/courses.oliveboard.in\/edge\/css\/login-modal-for-blog.css\">\n\n<style>\n#quiz-1-sticky-header {\n  position: sticky;\n  top: 0;\n  z-index: 100;\n  background: #1565c0;\n  color: #fff;\n  padding: 12px 20px;\n  border-radius: 10px 10px 0 0;\n  display: flex;\n  justify-content: space-between;\n  align-items: center;\n  font-size: 16px;\n  font-weight: bold;\n  box-shadow: 0 2px 8px rgba(0,0,0,0.2);\n  margin: -20px -20px 20px -20px;\n}\n\n#quiz-1-score-badge {\n  background: rgba(255,255,255,0.2);\n  padding: 4px 12px;\n  border-radius: 20px;\n  font-size: 15px;\n  white-space: nowrap;\n}\n#quiz-1 * { box-sizing: border-box; }\n\n#quiz-1 .quiz-container {\n  max-width: 700px;\n  margin: auto;\n  padding: 20px;\n  background: #fff;\n  border-radius: 14px;\n  box-shadow: 0 6px 16px rgba(0,0,0,0.12);\n}\n\n#quiz-1 h2 {\n  text-align: center;\n}\n\n#quiz-1 .question {\n  margin-bottom: 22px;\n}\n\n#quiz-1 .question p {\n  font-weight: bold;\n}\n\n#quiz-1 button {\n  width: 100%;\n  padding: 12px;\n  margin: 6px 0;\n  border: none;\n  border-radius: 6px;\n  background: #e0e0e0;\n  color: #000;\n  font-size: 16px;\n  cursor: pointer;\n}\n\n#quiz-1 button:hover {\n  background: #d5d5d5;\n}\n\n#quiz-1 button.correct {\n  background: #4caf50;\n  color: #000;\n}\n\n#quiz-1 button.wrong {\n  background: #f44336;\n  color: #000;\n}\n\n#quiz-1 button.locked {\n  pointer-events: none;\n}\n\n\/* SUMMARY *\/\n#quiz-1 .final-summary {\n  margin-top: 40px;\n  padding: 20px;\n  border-radius: 14px;\n  background: #fafafa;\n  border: 2px solid #4caf50;\n}\n\n#quiz-1 .final-summary h3 {\n  text-align: center;\n  margin-bottom: 20px;\n}\n\n#quiz-1 .summary-row {\n  display: grid;\n  grid-template-columns: 120px 1fr 40px;\n  gap: 10px;\n  align-items: center;\n  margin-bottom: 12px;\n  font-weight: bold;\n}\n\n#quiz-1 .summary-bar {\n  height: 14px;\n  background: #ddd;\n  border-radius: 10px;\n  overflow: hidden;\n}\n\n#quiz-1 .bar-fill {\n  height: 100%;\n  width: 0%;\n}\n\n#quiz-1 .bar-attempted { background: #2196f3; }\n#quiz-1 .bar-correct { background: #4caf50; }\n#quiz-1 .bar-wrong { background: #f44336; }\n#quiz-1 .bar-unattempted { background: #9e9e9e; width: 100%; }\n\n#quiz-1 .final-score {\n  text-align: center;\n  font-size: 22px;\n  margin-top: 20px;\n}\n\n#quiz-1 .score-value {\n  font-size: 30px;\n  margin-left: 8px;\n}\n<\/style>\n<\/head>\n\n<body>\n<div id=\"quiz-1\">\n  <div class=\"quiz-container\">\n<div id=\"quiz-1-sticky-header\">\n  <span> Practice JAIIB IE and IFS Quiz on Globalization and Its Impact on India <\/span>\n  <span id=\"quiz-1-score-badge\">Score: <strong id=\"quiz-1-score-value\">0.00<\/strong><\/span>\n<\/div>\n\n    <!-- QUESTIONS -->\n\n<div class=\"question\" data-answered=\"false\">\n  <p>1. Globalization is best defined as:<\/p>\n  <button data-correct=\"false\">A static, unchanging policy of economic isolation<\/button>\n  <button data-correct=\"false\">A policy applicable only to developed countries<\/button>\n  <button data-correct=\"true\">A dynamic process of integration among nations, continuously shaped and reshaped by global crises and political shifts<\/button>\n  <button data-correct=\"false\">A one-time historical event of the 20th century<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>2. As per the World Trade Organization (WTO), Globalization is defined as:<\/p>\n  <button data-correct=\"false\">Restriction of capital and labour movement across borders<\/button>\n  <button data-correct=\"true\">The increasing interconnectedness of the world&#8217;s economies, cultures and inhabitants through continuous cross-border flows<\/button>\n  <button data-correct=\"false\">A policy limited only to political integration<\/button>\n  <button data-correct=\"false\">A temporary phase that ended with World War II<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>3. During which period did the world first witness a major retreat from globalization?<\/p>\n  <button data-correct=\"true\">World War I, the Great Depression and World War II<\/button>\n  <button data-correct=\"false\">The 1990s, after India&#8217;s liberalization<\/button>\n  <button data-correct=\"false\">The mid-1980s<\/button>\n  <button data-correct=\"false\">Post-2008 global financial crisis<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>4. Which organization is credited with popularizing the term &#8216;Globalization&#8217; again in the mid-1980s?<\/p>\n  <button data-correct=\"false\">World Trade Organization (WTO)<\/button>\n  <button data-correct=\"false\">International Monetary Fund (IMF)<\/button>\n  <button data-correct=\"false\">European Central Bank (ECB)<\/button>\n  <button data-correct=\"true\">Organization for Economic Co-operation and Development (OECD)<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>5. The OECD can best be described as:<\/p>\n  <button data-correct=\"false\">A private multinational corporation<\/button>\n  <button data-correct=\"false\">A United Nations refugee agency<\/button>\n  <button data-correct=\"true\">An inter-governmental organization of 38 member countries based in Paris, promoting global economic progress and fair markets<\/button>\n  <button data-correct=\"false\">A regional trade bloc limited to Asia<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>6. India&#8217;s economic policy in the early years after independence was primarily characterized by:<\/p>\n  <button data-correct=\"false\">Aggressive globalization and free trade<\/button>\n  <button data-correct=\"true\">Protectionism and inward-looking policies to shield domestic industries from foreign competition<\/button>\n  <button data-correct=\"false\">Full capital account convertibility<\/button>\n  <button data-correct=\"false\">Complete economic isolation with no trade at all<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>7. Globalization was formally introduced in India through:<\/p>\n  <button data-correct=\"false\">Industrial Policy Resolution, 1956<\/button>\n  <button data-correct=\"false\">Green Revolution, 1965<\/button>\n  <button data-correct=\"true\">New Economic Policy (LPG Reforms), 1991-92<\/button>\n  <button data-correct=\"false\">WTO Membership, 1995<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>8. LPG, in the context of India&#8217;s 1991 reforms, stands for:<\/p>\n  <button data-correct=\"true\">Liberalization, Privatization and Globalization<\/button>\n  <button data-correct=\"false\">Liquefied Petroleum Gas<\/button>\n  <button data-correct=\"false\">Local Production Growth<\/button>\n  <button data-correct=\"false\">Limited Public Governance<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>9. Since 1991, globalization has primarily acted in the Indian economy as:<\/p>\n  <button data-correct=\"false\">A barrier to economic growth<\/button>\n  <button data-correct=\"false\">A cause of permanent recession<\/button>\n  <button data-correct=\"false\">A tool for capital account restriction<\/button>\n  <button data-correct=\"true\">An engine of growth<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>10. Which of the following best reflects a long-term positive impact of globalization on India?<\/p>\n  <button data-correct=\"false\">Per capita income has consistently declined<\/button>\n  <button data-correct=\"true\">Growth rates have far exceeded the levels seen in prior decades<\/button>\n  <button data-correct=\"false\">Consumer choice has reduced significantly<\/button>\n  <button data-correct=\"false\">Domestic producers gained unrestricted monopoly power<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>11. Why are Indian producers generally unable to charge arbitrarily high prices after globalization?<\/p>\n  <button data-correct=\"true\">Because increased competition from foreign goods limits monopolistic pricing<\/button>\n  <button data-correct=\"false\">Because the government fixes all prices by law<\/button>\n  <button data-correct=\"false\">Because exports have been completely banned<\/button>\n  <button data-correct=\"false\">Because domestic demand has disappeared<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>12. &#8216;Fair&#8217; or &#8216;Equitable&#8217; Globalization implies that:<\/p>\n  <button data-correct=\"false\">Only developed countries should benefit from global trade<\/button>\n  <button data-correct=\"false\">Wealthy classes alone should capture the gains from trade<\/button>\n  <button data-correct=\"true\">Benefits of globalization should reach all sections of society and all nations equitably<\/button>\n  <button data-correct=\"false\">Globalization automatically distributes benefits equally without any intervention<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>13. What is necessary to ensure that the benefits of globalization are shared fairly?<\/p>\n  <button data-correct=\"false\">Complete withdrawal of government from markets<\/button>\n  <button data-correct=\"true\">Active and vigilant government measures to create equal opportunities for all<\/button>\n  <button data-correct=\"false\">Removal of WTO oversight over trade disputes<\/button>\n  <button data-correct=\"false\">Granting unrestricted monopoly to domestic firms<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>14. According to the principles discussed, globalization should ideally be governed in a manner that is:<\/p>\n  <button data-correct=\"false\">Exclusive, favoring only economically powerful nations<\/button>\n  <button data-correct=\"false\">Centralized entirely under one global authority<\/button>\n  <button data-correct=\"false\">Indifferent to the cultural diversity of nations<\/button>\n  <button data-correct=\"true\">Democratically governed, inclusive, and respectful of national diversity<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>15. What does the phrase &#8216;Globalization in Reverse Gear&#8217; refer to?<\/p>\n  <button data-correct=\"false\">Acceleration of free trade agreements worldwide<\/button>\n  <button data-correct=\"false\">Expansion of the WTO&#8217;s dispute settlement powers<\/button>\n  <button data-correct=\"false\">An increase in cross-border labour migration<\/button>\n  <button data-correct=\"true\">A transition away from hyper-integrated international markets towards localized production<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>16. Which of the following is generally NOT cited as a cause of deglobalization?<\/p>\n  <button data-correct=\"false\">Geopolitical tensions<\/button>\n  <button data-correct=\"false\">Rising nationalism<\/button>\n  <button data-correct=\"true\">A worldwide reduction of import tariffs by all nations<\/button>\n  <button data-correct=\"false\">Digital and data sovereignty concerns<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>17. Deglobalization can best be defined as:<\/p>\n  <button data-correct=\"false\">The process of increasing dependency and integration among all nations<\/button>\n  <button data-correct=\"true\">The process of reducing dependency and integration among particular units across the world<\/button>\n  <button data-correct=\"false\">A permanent and irreversible global condition<\/button>\n  <button data-correct=\"false\">A policy followed exclusively by developing nations<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>18. The &#8216;China Plus One&#8217; strategy refers to:<\/p>\n  <button data-correct=\"true\">Multinational corporations diversifying part of their manufacturing base away from sole reliance on China<\/button>\n  <button data-correct=\"false\">China doubling its own manufacturing capacity<\/button>\n  <button data-correct=\"false\">India&#8217;s plan to increase imports from China<\/button>\n  <button data-correct=\"false\">A WTO scheme granting China preferential trade status<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>19. &#8216;Near-shoring&#8217; and &#8216;Friend-shoring&#8217; refer to:<\/p>\n  <button data-correct=\"false\">Increasing reliance on a single distant low-cost country<\/button>\n  <button data-correct=\"false\">Banning all foreign direct investment<\/button>\n  <button data-correct=\"false\">Reducing domestic production entirely<\/button>\n  <button data-correct=\"true\">Shifting manufacturing and supply chains to countries that are geographically closer or politically friendlier<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>20. India&#8217;s &#8216;Atmanirbhar Bharat&#8217; initiative is best associated with:<\/p>\n  <button data-correct=\"false\">Increasing reliance on foreign imports<\/button>\n  <button data-correct=\"false\">Joining new multilateral free trade agreements<\/button>\n  <button data-correct=\"true\">Building domestic resilience and manufacturing capabilities to reduce historical reliance on foreign imports<\/button>\n  <button data-correct=\"false\">Removing all tariffs on imported goods<\/button>\n<\/div>\n\n    <!-- FINAL SUMMARY -->\n    <div class=\"final-summary\">\n      <h3>Quiz Summary <\/h3>\n\n      <div class=\"summary-row\">\n        <span>Attempted<\/span>\n        <div class=\"summary-bar\"><div class=\"bar-fill bar-attempted\" data-summary=\"attempted\"><\/div><\/div>\n        <span data-count=\"attempted\">0<\/span>\n      <\/div>\n\n      <div class=\"summary-row\">\n        <span>Correct<\/span>\n        <div class=\"summary-bar\"><div class=\"bar-fill bar-correct\" data-summary=\"correct\"><\/div><\/div>\n        <span data-count=\"correct\">0<\/span>\n      <\/div>\n\n      <div class=\"summary-row\">\n        <span>Wrong<\/span>\n        <div class=\"summary-bar\"><div class=\"bar-fill bar-wrong\" data-summary=\"wrong\"><\/div><\/div>\n        <span data-count=\"wrong\">0<\/span>\n      <\/div>\n\n      <div class=\"summary-row\">\n        <span>Unattempted<\/span>\n        <div class=\"summary-bar\"><div class=\"bar-fill bar-unattempted\" data-summary=\"unattempted\"><\/div><\/div>\n        <span data-count=\"unattempted\">0<\/span>\n      <\/div>\n\n      <div class=\"final-score\">\n        Final Score: <span class=\"score-value\" data-score>0.0<\/span>\n      <\/div>\n    <\/div>\n\n  <\/div>\n<\/div>\n<div class=\"modal modal-obls\" id=\"modal-signup\">\n        <div class=\"modal-background\"><\/div>\n        <div class=\"modal-content\">\n           <div class=\"obls-group\" id=\"obls-group1\">\n               <div class=\"obls-blk\">\n  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class=\"L5Fo6c-PQbLGe\" allow=\"identity-credentials-get\" id=\"gsi_437394_8652\" title=\"Sign in with Google Button\" style=\"display: block; position: relative; top: 0px; left: 0px; height: 44px; width: 204px; border: 0px; margin: -2px -10px;\"><\/iframe><\/div><\/div>\n                   <\/div>\n                   <h6 class=\"signup-subheader\">Or, register with email<\/h6>\n                   <label class=\"errormsg txt-red courseUp\"><\/label>\n                   <div class=\"formcontrol-group\">\n                        <span class=\"icon\"><img decoding=\"async\" src=\"\/img\/ic-mail.svg\" alt=\"\"><\/span>\n                        <input type=\"email\" name=\"email\" class=\"formcontrol ob-inputfield\" id=\"course-uemail\" required=\"\">\n                        <span class=\"floating-label\" style=\"top: 19px; font-size: 12px;\">Email Id<\/span>\n                   <\/div>\n                   <div class=\"formcontrol-group\">\n                        <span class=\"icon\"><img 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class=\"formcontrol-group formcontrol-group-fp\">\n                            <span class=\"icon\"><img decoding=\"async\" src=\"\/img\/ic-mail.svg\" alt=\"\"><\/span>\n                            <input type=\"email\" name=\"email\" class=\"formcontrol ob-inputfield\" id=\"remail\" required=\"\">\n                            <span class=\"floating-label\">Email Id<\/span>\n                       <\/div>\n                       <div class=\"loginas-group loginas-group1\">\n                            <button type=\"button\" id=\"btn-fpwd-cancel\" class=\"btn btn-md btn-white btn-cancel btn-fpwd-cancel\">Cancel<\/button>\n                            <button type=\"button\" id=\"lreset\" class=\"btn btn-md btn-tblue btn-fpwd-submit\" onclick=\"resetPassword()\">Submit<\/button>\n                       <\/div>\n                    <\/div><!-- end forgotpwd group --> \n                   <h6 class=\"login-subheader\">Or, login with<\/h6>\n                   <div class=\"loginas-group 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24.55c0-1.57-.15-3.09-.38-4.55H24v9.02h12.94c-.58 2.96-2.26 5.48-4.78 7.18l7.73 6c4.51-4.18 7.09-10.36 7.09-17.65z\"><\/path><path fill=\"#FBBC05\" d=\"M10.53 28.59c-.48-1.45-.76-2.99-.76-4.59s.27-3.14.76-4.59l-7.98-6.19C.92 16.46 0 20.12 0 24c0 3.88.92 7.54 2.56 10.78l7.97-6.19z\"><\/path><path fill=\"#34A853\" d=\"M24 48c6.48 0 11.93-2.13 15.89-5.81l-7.73-6c-2.15 1.45-4.92 2.3-8.16 2.3-6.26 0-11.57-4.22-13.47-9.91l-7.98 6.19C6.51 42.62 14.62 48 24 48z\"><\/path><path fill=\"none\" d=\"M0 0h48v48H0z\"><\/path><\/g><\/svg><\/div><span class=\"nsm7Bb-HzV7m-LgbsSe-BPrWId\">Sign in with Google<\/span><span class=\"L6cTce\" id=\"button-label\">Sign in with Google. Opens in new tab<\/span><\/div><\/div><\/div><iframe src=\"https:\/\/accounts.google.com\/gsi\/button?type=standard&amp;is_fedcm_supported=true&amp;client_id=506321490093-i3j96ah9gn1sv3khntnd1rnv5jebt5j4.apps.googleusercontent.com&amp;iframe_id=gsi_437400_306436&amp;cas=pwXumGxyCMNtIbjaV30qchi2A1vUar%2Faz%2FOE5HQ%2B0Zc\" class=\"L5Fo6c-PQbLGe\" allow=\"identity-credentials-get\" id=\"gsi_437400_306436\" title=\"Sign in with Google Button\" style=\"display: block; position: relative; top: 0px; left: 0px; height: 0px; width: 0px; border: 0px;\"><\/iframe><\/div><\/div>\n\n\n                   <\/div>\n                    <p class=\"obls-footer\">New to Oliveboard?<button class=\"btn btn-xs btn-switch-obls\" id=\"btn-show-modal-signup\">Register<\/button><\/p>\n               <\/div> \n            <\/div> \n            <div class=\"success-msg-group\" id=\"success-msg-group\"><!-- success msg -->\n                <div class=\"success-msg-blk\" id=\"success-msg-blk\">\n                    <span class=\"img-box\"><img decoding=\"async\" src=\"\/img\/success-ellipse.svg\" alt=\"\"><\/span>\n                    <h2 id=\"fpwd-success-msg-title\"><span class=\"ez-toc-section\" id=\"i\"><\/span>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n                    <p id=\"fpwd-success-msg-text\">&nbsp;<\/p>\n                    <div class=\"login-btn\">\n                        <button type=\"button\" class=\"btn btn-md btn-tblue modal-obls-close\">Ok<\/button>\n                    <\/div>\n\n                <\/div>\n            <\/div><!-- success msg -->\n\n        <\/div>\n        <button class=\"modal-close is-large modal-obls-close\" aria-label=\"close\"><\/button>\n    <\/div>\n\n<script src=\"https:\/\/s3-ap-southeast-1.amazonaws.com\/sg2.oliveboard.in\/static\/js\/jquery.js\"><\/script>\n\n<script>\nvar boxurl = window.location.href + '?log=1';\n\nfunction getUrlParam(name, defaultValue) {\n    const params = new URLSearchParams(window.location.search);\n    return params.has(name) ? params.get(name) : defaultValue;\n}\n\nvar l_log = getUrlParam('log', 0);\n<\/script>\n<script src=\"https:\/\/www.oliveboard.in\/js\/coursecommon.js?v=12\"><\/script>\n\n\n<script>\n(() => {\n  const quizContainer = document.getElementById('quiz-1');\n  const STORAGE_KEY = 'quiz_1_state';\n  let score = 0;\n  let attempted = 0;\n  let correct = 0;\n  let wrong = 0;\n\n  const questions = quizContainer.querySelectorAll(\".question\");\n  const total = questions.length;\n\n  function loadState() {\n    try { return JSON.parse(sessionStorage.getItem(STORAGE_KEY) || '{}'); }\n    catch { return {}; }\n  }\n\n  function saveState(data) {\n    sessionStorage.setItem(STORAGE_KEY, JSON.stringify(data));\n  }\n\n  function updateUI() {\n    const unattempted = total - attempted;\n    quizContainer.querySelector('[data-count=\"attempted\"]').textContent = attempted;\n    quizContainer.querySelector('[data-count=\"correct\"]').textContent = correct;\n    quizContainer.querySelector('[data-count=\"wrong\"]').textContent = wrong;\n    quizContainer.querySelector('[data-count=\"unattempted\"]').textContent = unattempted;\n    quizContainer.querySelector('[data-summary=\"attempted\"]').style.width = (attempted \/ total) * 100 + \"%\";\n    quizContainer.querySelector('[data-summary=\"correct\"]').style.width = (correct \/ total) * 100 + \"%\";\n    quizContainer.querySelector('[data-summary=\"wrong\"]').style.width = (wrong \/ total) * 100 + \"%\";\n    quizContainer.querySelector('[data-summary=\"unattempted\"]').style.width = (unattempted \/ total) * 100 + \"%\";\n    quizContainer.querySelector('[data-score]').textContent = score.toFixed(2);\n\n    \/\/ Live score update in sticky header\n    document.getElementById('quiz-1-score-value').textContent = score.toFixed(2);\n  }\n\n  function restoreQuestion(q, chosenIndex, wasCorrect) {\n    q.dataset.answered = \"true\";\n    const buttons = q.querySelectorAll(\"button\");\n    buttons.forEach(b => b.classList.add(\"locked\"));\n    if (wasCorrect) {\n      buttons[chosenIndex].classList.add(\"correct\");\n    } else {\n      buttons[chosenIndex].classList.add(\"wrong\");\n      q.querySelector(\"[data-correct='true']\").classList.add(\"correct\");\n    }\n  }\n\n  \/\/ Restore saved answers on page load\n  const savedAnswers = loadState();\nquestions.forEach((q, qIndex) => {\n    const saved = savedAnswers[qIndex];\n    if (saved !== undefined) {\n      attempted++;\n      if (saved.correct) { correct++; }\n      else { wrong++; }\n      restoreQuestion(q, saved.chosenIndex, saved.correct);\n    }\n  });\n  score = parseFloat((correct * 1 - wrong * 0.0).toFixed(2));\n  updateUI();\n\n  \/\/ Attach click handlers\n  questions.forEach((q, qIndex) => {\n    q.querySelectorAll(\"button\").forEach((btn, btnIndex) => {\n      btn.addEventListener(\"click\", () => {\n        if (q.dataset.answered === \"true\") return;\n        q.dataset.answered = \"true\";\n        attempted++;\n\n        if (attempted > 9 && l_log == 0) {\n          $('#modal-signup').addClass('is-active');\n        }\n\n        q.querySelectorAll(\"button\").forEach(b => b.classList.add(\"locked\"));\n        const isCorrect = btn.dataset.correct === \"true\";\n\n if (isCorrect) {\n          btn.classList.add(\"correct\");\n          correct++;\n        } else {\n          btn.classList.add(\"wrong\");\n          wrong++;\n          q.querySelector(\"[data-correct='true']\").classList.add(\"correct\");\n        }\n        score = parseFloat((correct * 1 - wrong * 0.00).toFixed(2));\n\n        savedAnswers[qIndex] = { chosenIndex: btnIndex, correct: isCorrect };\n        saveState(savedAnswers);\n        updateUI();\n      });\n    });\n  });\n\n  updateUI();\n})();\n<\/script>\n\n<\/body>\n<\/html>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-free-quizzes\/?ref=contac-jieifs-gii-pq\" target=\"_blank\" rel=\"noreferrer noopener\">Download JAIIB Free Quizzes<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_has_globalization_evolved_over_time\"><\/span>How has globalization evolved over time?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The trend of globalization has not always been the same. There have been periods when countries encouraged global trade and periods when they moved away from it. Global events such as wars, economic crises, and political changes have continuously shaped globalization.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Period<\/strong><\/td><td><strong>Trend<\/strong><\/td><\/tr><tr><td>World War I &amp; II<\/td><td>Decline in globalization<\/td><\/tr><tr><td>Great Depression<\/td><td>Rise in protectionism<\/td><\/tr><tr><td>Mid-1980s<\/td><td>Revival of globalization<\/td><\/tr><tr><td>1990s<\/td><td>Hyper-globalization and free trade<\/td><\/tr><tr><td>Present<\/td><td>Selective globalization and deglobalization<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Important point &#8211;<\/strong> The globalization concept gained popularity during the mid-1980s through the efforts of OECD.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_role_of_WTO_in_globalization\"><\/span>What is the role of WTO in globalization?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The World Trade Organization (WTO) plays an important role in promoting free and fair international trade. It encourages countries to reduce trade barriers and improve economic cooperation. WTO supports global integration by creating rules for international trade.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Promotes free trade<\/li>\n\n\n\n<li>Reduces trade barriers<\/li>\n\n\n\n<li>Encourages global economic cooperation<\/li>\n\n\n\n<li>Facilitates dispute settlement<\/li>\n\n\n\n<li>Supports international market access<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>WTO Contribution<\/strong><\/td><td><strong>Impact<\/strong><\/td><\/tr><tr><td>Trade liberalization<\/td><td>Increased global trade<\/td><\/tr><tr><td>Market access<\/td><td>Better export opportunities<\/td><\/tr><tr><td>Trade rules<\/td><td>Fair competition<\/td><\/tr><tr><td>Dispute settlement<\/td><td>Resolves trade conflicts<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n<figure class=\"wp-block-embed wp-embed-aspect-16-9 wp-has-aspect-ratio  is-type-video is-provider-youtube wp-block-embed-youtube\"><div class=\"wp-block-embed__wrapper video-seo-youtube-embed-wrapper\"><div class=\"video-seo-youtube-player\" data-id=\"cu3VlPe2xCs\"><\/div><\/div><\/figure>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_did_globalization_start_in_India\"><\/span>How did globalization start in India?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>India initially followed a protectionist approach after independence. The focus was on protecting domestic industries from foreign competition. However, economic reforms introduced in 1991 changed India&#8217;s economic strategy and opened the economy to the world.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>LPG Reforms of 1991\n<ul class=\"wp-block-list\">\n<li>LPG stands for:\n<ul class=\"wp-block-list\">\n<li>Liberalization<\/li>\n\n\n\n<li>Privatization<\/li>\n\n\n\n<li>Globalization<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p>These reforms formally introduced globalization in India and increased India&#8217;s participation in the global economy.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Before 1991<\/strong><\/td><td><strong>After 1991<\/strong><\/td><\/tr><tr><td>Protectionism<\/td><td>Global integration<\/td><\/tr><tr><td>Limited foreign investment<\/td><td>Increased FDI<\/td><\/tr><tr><td>Restricted trade<\/td><td>Trade liberalization<\/td><\/tr><tr><td>Inward-looking economy<\/td><td>Outward-looking economy<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Also: Check out the detailed <a href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-syllabus\/?ref=contac-jieifs-gii-pq\" target=\"_blank\" rel=\"noreferrer noopener\">JAIIB IE and IFS Syllabus<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_has_globalization_impacted_Indias_economy\"><\/span>How has globalization impacted India&#8217;s economy?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Globalization has played a major role in accelerating India&#8217;s economic growth. It has increased exports, attracted foreign investments, improved productivity, and expanded business opportunities.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Increase in GDP growth<\/li>\n\n\n\n<li>Rise in exports<\/li>\n\n\n\n<li>Better industrial productivity<\/li>\n\n\n\n<li>Higher foreign investment<\/li>\n\n\n\n<li>Improved employment opportunities<\/li>\n\n\n\n<li>Greater competition<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Impact Area<\/strong><\/td><td><strong>Benefit<\/strong><\/td><\/tr><tr><td>GDP<\/td><td>Faster economic growth<\/td><\/tr><tr><td>Exports<\/td><td>Higher foreign earnings<\/td><\/tr><tr><td>Employment<\/td><td>New job opportunities<\/td><\/tr><tr><td>Investment<\/td><td>Increased FDI inflows<\/td><\/tr><tr><td>Industry<\/td><td>Better efficiency and productivity<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_has_globalization_benefited_Indian_agriculture\"><\/span>How has globalization benefited Indian agriculture?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Globalization has helped modernize Indian agriculture through improved technology, better irrigation practices, and advanced farming methods. Farmers gained access to modern agricultural inputs and improved production techniques.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Use of modern irrigation systems<\/li>\n\n\n\n<li>Adoption of HYV seeds<\/li>\n\n\n\n<li>Increased use of fertilizers<\/li>\n\n\n\n<li>Better farm machinery<\/li>\n\n\n\n<li>Improved productivity<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Agricultural Area<\/strong><\/td><td><strong>Impact<\/strong><\/td><\/tr><tr><td>Irrigation<\/td><td>Better water management<\/td><\/tr><tr><td>Seeds<\/td><td>Higher crop yield<\/td><\/tr><tr><td>Machinery<\/td><td>Improved efficiency<\/td><\/tr><tr><td>Technology<\/td><td>Modern farming practices<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.oliveboard.in\/jaiib-previous-year-papers\/?ref=contac-jieifs-gii-pq\" target=\"_blank\" rel=\"noreferrer noopener\">Attempt JAIIB Previous Year Papers Today!<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_does_globalization_benefit_consumers\"><\/span>How does globalization benefit consumers?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Globalization increases competition in the market, which benefits consumers. Buyers get more product choices, better quality goods, and competitive prices.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Wider product selection<\/li>\n\n\n\n<li>Improved quality standards<\/li>\n\n\n\n<li>Better customer experience<\/li>\n\n\n\n<li>Competitive pricing<\/li>\n\n\n\n<li>Access to international brands<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Benefit<\/strong><\/td><td><strong>Result<\/strong><\/td><\/tr><tr><td>Competition<\/td><td>Better quality<\/td><\/tr><tr><td>More products<\/td><td>Greater choice<\/td><\/tr><tr><td>Global brands<\/td><td>Better options<\/td><\/tr><tr><td>Innovation<\/td><td>Improved products<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_fair_globalization\"><\/span>What is fair globalization?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Fair globalization means that the benefits of globalization should reach all sections of society. It should create equal opportunities and support inclusive growth. The gains from globalization should not be limited to a few countries or income groups.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Equal opportunities for all<\/li>\n\n\n\n<li>Inclusive economic growth<\/li>\n\n\n\n<li>Respect for cultural diversity<\/li>\n\n\n\n<li>Democratic participation<\/li>\n\n\n\n<li>Shared economic benefits<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Principle<\/strong><\/td><td><strong>Objective<\/strong><\/td><\/tr><tr><td>Inclusion<\/td><td>Growth for everyone<\/td><\/tr><tr><td>Equality<\/td><td>Equal access to opportunities<\/td><\/tr><tr><td>Diversity<\/td><td>Respect for cultures<\/td><\/tr><tr><td>Fairness<\/td><td>Balanced distribution of benefits<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Also Check: <a href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-and-ifs-module-wise-study-guide\/?ref=contac-jieifs-gii-pq\" target=\"_blank\" rel=\"noreferrer noopener\">JAIIB IE and IFS Mind Map PDF<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_deglobalization\"><\/span>What is deglobalization?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Deglobalization refers to the reduction of economic integration and dependence among countries. It is often called globalization in reverse gear. Countries focus more on domestic production and reduce reliance on foreign markets.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Geopolitical conflicts<\/li>\n\n\n\n<li>Trade wars<\/li>\n\n\n\n<li>Rising nationalism<\/li>\n\n\n\n<li>Data security concerns<\/li>\n\n\n\n<li>Supply chain disruptions<\/li>\n\n\n\n<li>National security priorities<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Cause<\/strong><\/td><td><strong>Impact<\/strong><\/td><\/tr><tr><td>Trade wars<\/td><td>Reduced trade<\/td><\/tr><tr><td>Conflicts<\/td><td>Economic uncertainty<\/td><\/tr><tr><td>Nationalism<\/td><td>Local production focus<\/td><\/tr><tr><td>Data sovereignty<\/td><td>Restrictions on digital flows<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_recent_examples_of_deglobalization\"><\/span>What are the recent examples of deglobalization?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Several global developments have encouraged countries to reduce dependence on international markets and strengthen domestic industries.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Brexit<\/li>\n\n\n\n<li>US-China Trade War<\/li>\n\n\n\n<li>Russia-Ukraine Conflict<\/li>\n\n\n\n<li>COVID-19 Pandemic<\/li>\n\n\n\n<li>Supply chain restructuring<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Example<\/strong><\/td><td><strong>Impact on Globalization<\/strong><\/td><\/tr><tr><td>Brexit<\/td><td>Reduced regional integration<\/td><\/tr><tr><td>US-China Trade War<\/td><td>Increased tariffs<\/td><\/tr><tr><td>COVID-19<\/td><td>Supply chain disruptions<\/td><\/tr><tr><td>Russia-Ukraine Conflict<\/td><td>Trade uncertainty<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.oliveboard.in\/jaiib\/?ref=contac-jieifs-gii-pq\" target=\"_blank\" rel=\"noreferrer noopener\">Join the JAIIB Online Course now<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_protectionism\"><\/span>What is protectionism?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Protectionism refers to government policies designed to protect domestic industries and workers from foreign competition. Countries use various measures to reduce imports and support local producers.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Tariffs<\/li>\n\n\n\n<li>Import quotas<\/li>\n\n\n\n<li>Non-tariff barriers<\/li>\n\n\n\n<li>Licensing requirements<\/li>\n\n\n\n<li>Technical standards<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Tool<\/strong><\/td><td><strong>Meaning<\/strong><\/td><\/tr><tr><td>Tariff<\/td><td>Tax on imports<\/td><\/tr><tr><td>Quota<\/td><td>Limit on import quantity<\/td><\/tr><tr><td>Non-Tariff Barrier<\/td><td>Regulatory restrictions<\/td><\/tr><tr><td>Licensing<\/td><td>Approval requirements<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_effects_of_protectionism\"><\/span>What are the effects of protectionism?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Protectionism can support domestic industries, but it may also create economic challenges. While local businesses benefit, consumers may face higher prices and fewer choices.<\/p>\n\n\n\n<p>Protectionism can offer several benefits to an economy by supporting domestic industries, encouraging self-reliance, and reducing dependence on imported goods. It helps local businesses compete more effectively and can promote domestic manufacturing under initiatives such as Atmanirbhar Bharat. <\/p>\n\n\n\n<p>However, protectionism also has some drawbacks. Import restrictions, tariffs, and quotas can increase the prices of goods and services, leading to inflationary pressure on consumers. Reduced international trade may limit market opportunities for businesses, while higher government support and subsidies for domestic industries can increase public expenditure and contribute to a higher fiscal deficit.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Positive Effects<\/strong><\/td><td><strong>Negative Effects<\/strong><\/td><\/tr><tr><td>Domestic growth<\/td><td>Inflation<\/td><\/tr><tr><td>Employment support<\/td><td>Reduced competition<\/td><\/tr><tr><td>Self-reliance<\/td><td>Higher subsidies<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Also Check: <a href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-and-ifs-study-material\/?ref=contac-jieifs-gii-pq\" target=\"_blank\" rel=\"noreferrer noopener\">JAIIB IE and IFS Study Material<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_difference_between_globalization_and_deglobalization\"><\/span>What is the difference between globalization and deglobalization?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Globalization and deglobalization represent two different approaches to economic development. One promotes international integration, while the other focuses on domestic priorities.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Basis<\/strong><\/td><td><strong>Globalization<\/strong><\/td><td><strong>Deglobalization<\/strong><\/td><\/tr><tr><td>Approach<\/td><td>Outward-looking<\/td><td>Inward-looking<\/td><\/tr><tr><td>Trade<\/td><td>Encouraged<\/td><td>Restricted<\/td><\/tr><tr><td>Integration<\/td><td>High<\/td><td>Low<\/td><\/tr><tr><td>Capital Flow<\/td><td>Free movement<\/td><td>Limited movement<\/td><\/tr><tr><td>Technology Transfer<\/td><td>High<\/td><td>Restricted<\/td><\/tr><tr><td>Objective<\/td><td>Global cooperation<\/td><td>Domestic self-reliance<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1782300631321\"><strong class=\"schema-faq-question\">1. What is globalization?<\/strong> <p class=\"schema-faq-answer\">Globalization is the increasing integration of countries through trade, investment, technology, and movement of people.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1782300632190\"><strong class=\"schema-faq-question\">2. When was globalization formally introduced in India?<\/strong> <p class=\"schema-faq-answer\">Globalization was formally introduced in India through the New Economic Policy of 1991\u201392.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1782300632697\"><strong class=\"schema-faq-question\">3. What does LPG stand for in economic reforms?<\/strong> <p class=\"schema-faq-answer\">LPG stands for Liberalization, Privatization, and Globalization.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1782300633269\"><strong class=\"schema-faq-question\">4. Which organization promotes global free trade?<\/strong> <p class=\"schema-faq-answer\">The World Trade Organization (WTO) promotes global free trade and economic integration.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1782300633802\"><strong class=\"schema-faq-question\">5. <strong>What are the main tools of protectionism?<\/strong><\/strong> <p class=\"schema-faq-answer\">The main tools of protectionism are tariffs, import quotas, and non-tariff barriers.<\/p> <\/div> <\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n<ul class=\"wp-block-latest-posts__list is-grid columns-3 wp-block-latest-posts\"><li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/\">Attempt JAIIB IE and IFS Globalization &amp; Its Impact on India Quiz &amp; Free PDF<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-infrastructure-development\/\">JAIIB IE &amp; IFS Infrastructure Development Quiz &amp; Free PDF<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-sectors-of-indian-economy\/\">Attempt JAIIB IE &amp; IFS Sectors of Indian Economy Practice Quiz<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-msme-and-priority-sector\/\">Attempt JAIIB IE and IFS MSME and Priority Sector Quiz &amp; Download PDF<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-preparation-strategy\/\">JAIIB Preparation 2026, Subject Wise Strategy, Important Topics, Study Plan<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/how-to-prepare-for-jaiib-ie-and-ifs-exam\/\">JAIIB IE &amp; IFS Preparation Strategy 2026, Study Plan for 45 Days<\/a><\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>Globalization is one of the most important topics in the JAIIB IE and IFS syllabus. It explains how countries, businesses,<\/p>\n","protected":false},"author":58,"featured_media":246217,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10353],"tags":[],"class_list":["post-246211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-jaiib","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Attempt JAIIB IE and IFS Globalization &amp; Its Impact on India Quiz &amp; Free PDF<\/title>\n<meta name=\"description\" content=\"Understand the JAIIB IE and IFS Globalization Impact on India Quiz and its relation to international trade and economic growth.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Attempt JAIIB IE and IFS Globalization &amp; Its Impact on India Quiz &amp; Free PDF\" \/>\n<meta property=\"og:description\" content=\"Globalization is one of the most important topics in the JAIIB IE and IFS syllabus. It explains how countries, businesses, people, technology, and capital\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/\" \/>\n<meta property=\"og:site_name\" content=\"Oliveboard\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Oliveboard\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-24T12:29:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-06-24T12:31:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2026\/06\/IIBF-1-3.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"730\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"AditiOB\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Oliveboard\" \/>\n<meta name=\"twitter:site\" content=\"@Oliveboard\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"AditiOB\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-globalization-impact-on-india\/\"},\"author\":{\"name\":\"AditiOB\",\"@id\":\"https:\/\/www.oliveboard.in\/blog\/#\/schema\/person\/0cbc4ac8555ced346681804861de062c\"},\"headline\":\"Attempt JAIIB IE and IFS Globalization &amp; 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What are the main tools of protectionism?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The main tools of protectionism are tariffs, import quotas, and non-tariff barriers.","inLanguage":"en-US"},"inLanguage":"en-US"}]},"og_video":"https:\/\/www.youtube.com\/embed\/cu3VlPe2xCs","og_video_type":"text\/html","og_video_duration":"2639","og_video_width":"480","og_video_height":"270","ya_ovs_adult":"false","ya_ovs_upload_date":"2026-06-24T12:29:21+00:00","ya_ovs_allow_embed":"true"},"_links":{"self":[{"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/posts\/246211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/users\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/comments?post=246211"}],"version-history":[{"count":2,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/posts\/246211\/revisions"}],"predecessor-version":[{"id":246220,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/posts\/246211\/revisions\/246220"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/media\/246217"}],"wp:attachment":[{"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/media?parent=246211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/categories?post=246211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/tags?post=246211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}