Globalization is transforming markets into global markets without national boundaries. This increases competition and forces industries to restructure their strategies to operate on a global scale. Technology advances have significantly increased the efficient scale of production over time, requiring much larger output volumes to be competitive globally. Education and skills development are important for countries and companies to benefit from globalization and achieve global productivity levels. While globalization opens many opportunities, Indian companies face challenges such as intense international competition, high entry costs for major trade blocs, and inadequate infrastructure for logistics. Strategic alliances and building core competencies are key to achieving sustainable competitive advantage.
Globalization is transforming markets into global markets without national boundaries. This increases competition and forces industries to restructure their strategies to operate on a global…