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bwagupta
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Most of the former colonies of of the erstwhile imperial powers gave way to independent states. At the same time the United States of America rose as the foremost industrial power in the world. Naturally, the giant corporations of US grew, beyond its borders, much quicker than those of other countries. The UK, France and Germany along with other European and Asian countries, outnumber others. All of the MNCs have tremendous clout, and they can raise capital easily to invest in other countries. The MNCs invest in developing countries not motivated by humanitarian considerations but with the aim of maximizing their profit. They find lower labour cost and lower social and environmental costs in the poor countries attractive. Among such countries wherever the government policy allows the repatriation of money easily, they are likely to invest liberally. Recently, after the liberalization of the economy policy of India, there is a remarkable spurt in the investment of MNCs in India. Liberalization means on these giant corporations, easier and quicker recovery of their invested money. They had the present economic policy of India congenial to their aims and naturally their investments have increased. The effect of Multi National Companies on Indian economy is a debatable one. There are many fine points which need to be deliberated before we can come to any conclusion about their effects on Indian economy and society. On one hand, they have brought tremendous economic development in India but on the other hand they have also worked, though unintentionally, to change the societal picture, which is not very easy for the Indian society.