Globalization of Multinational Corporation has been bringing several new jobs to the destination cities such as Hyderabad, Bangalore, etc. New jobs are causing naturally more of engagements and employments (Mohapatra, 2007). The levels of compensation have been variedly higher than what domestic firms would have provided at similar level of professional experience and qualification.
A huge amount of wealth generation in these cities have been going on which is leading to the development of businesses and cities are also developing with higher purchasing power for those who are working with foreign organizations. Even the domestic organizations are encouraged to pay higher compensation to their employees who enhance people to live better quality lives indirectly (Held, 1999). Thus these cities are witnessing better living standards and also development in business besides economic growth in the city. Pride of working in global organizations has been on the increase among the young professionals and that has done wonders in increasing their outstanding confidence levels even in their early 20s not seen in any other age group (Lara, 2008). This is a wide positive fact in these destination cities and this is also trickling to the young professionals in other centers of growth.
This positive phenomenon with professionalism might give further a strong motivation to the Indian economy. Growth of commercial and housing real estate industry has expanded significantly. Thus globalization has improved the overall economic status of people as well as the Indian nation, as a whole.
- Mohapatra A K D (2007),” International accounting”, Prentice Hall, New Delhi.
- Held D (1999), “Global transformations: politics, economics and culture”, Stanford University press, USA.
- Lara J J P (2008), “Multinational corporations and the emerging network economy in Asia and the Pacific”, Routledge, New York