Answer:
Competition
from imported goods has benefitted people in India in the following ways
(i) Indian producers have improved
their technology and quality to compete with foreign goods. This has benefitted
the buyers of the goods as well as the producers, who can now compete in the
world market.
(ii) Prices of Indian goods have reduced to match those of foreign goods
and so buyers of these items have benefitted.
(iii) Some Indian companies have entered into collaboration
with the foreign companies and some MNCs have invested in Indian companies,
thus benefiting both.
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