Should more Indian companies emerge as MNCs? How would it benefit the people in the country?
Yes, more Indian companies should emerge as MNCs. This would benefit the people in the country in several ways.
Firstly, when Indian companies become MNCs and spread their operations worldwide, they create new jobs for people. Just as MNCs investing in India have created employment in industries like automobiles, electronics, and services, Indian MNCs would generate similar opportunities.
Secondly, local companies supplying raw materials and other inputs to these Indian MNCs would prosper, creating a ripple effect of growth and employment throughout the economy.
Additionally, globalisation has created new opportunities in IT and services. Indian MNCs can provide services like data entry, accounting, administrative tasks, and engineering work, bringing foreign income and creating more employment for people in the country.
Explanation
The textbook context shows that globalisation has already enabled Indian companies like Tata Motors, Infosys, Ranbaxy, Asian Paints, and Sundaram Fasteners to emerge as multinationals. The benefits mirror those of MNCs investing in India — job creation, prosperity for local suppliers, and new opportunities in the IT and services sector. The context explicitly mentions that services like data entry, accounting, administrative tasks, and engineering are now being done cheaply in India and exported to developed countries.