Globalization has had a significant impact on India's economy in recent years. The effects can be analyzed as follows:

• Increased trade: Globalization has opened up opportunities for increased trade for India. The country has become a hub for outsourcing and other services, leading to increased exports.
• Job creation: Globalization has also created job opportunities in India. With more companies setting up their operations in the country, job opportunities have increased.
• Improved infrastructure: The influx of foreign investment has led to an improved infrastructure in the country. Improved infrastructure has made it easier for businesses to operate in the country.
• Rising incomes: Globalization has also led to rising incomes in India. With increased investment, businesses have been able to expand and pay higher salaries to their employees.
• Challenges: Despite the numerous opportunities that have emerged, globalization has also brought its share of challenges. The country has witnessed an increase in income inequality, and the environment has also deteriorated in some regions.
• Opportunities: On the positive side, globalization has allowed India to diversify its economy and reduce its dependence on agriculture. The country has also been able to attract foreign investment, leading to higher economic growth.

Overall, globalization has had both positive and negative effects on the Indian economy. While the country has been able to benefit from increased trade and job creation, it also faces several challenges, including environmental degradation and income inequality.