Impact Of Globalization On The Indian Film Industry

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Globalization refers to the international flows of goods, services and capital among world economies. The term gained prominence in the early 1990’s and the better part of the 21st century as countries found the need to revise protectionist regulations. Over the years, countries were worried that allies and enemies would control vital sector of the economy if they were allowed to trade freely. Governments implemented legislations that would counter such scenarios but the move stalled growth. Economic experts pointed out that revising regulations would inject the much needed resources to rekindle growth. India is regarded as one of the fastest growing economies in the world. It is home to Bollywood, the Hindi-language film industry. The name was coined from the famous American term that refers to its film industry, Hollywood and the Indian city of Bombay. The effect of globalization in the Indian movie industry has been mixed both with positive and negative attributes. The paper will examine a brief history of the Indian film industry highlighting how globalization has shaped the industry over the years. The discussion will highlight the effects of globalization, both positive and negative and concluding the argument with a personal opinion as to how the industry would handle the challenges better and exploit opportunities identified. Developing countries on the other hand have better and more rewarding opportunities for growth owing to the unexploited resources. Most
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