Both the arguments have some truth as mentioned below :

Globalisation has helped India develop as mentioned below :

• Many MNCs are making an investment in India in different sectors like insurance banking and food processing.
• These investments have benefited people in a, number of ways which has resulted in the development of the country.
• Now people have choices. They can buy anything of their choice costly or cheap.
• People are getting jobs with a handsome salary.
• The living standard of people has increased. Many projects are going on with the help of foreign investment. Different states are making efforts to attract foreign companies to make an investment in their states and are successful in their mission.

The globalisation, however, has hurt the country’s development as mentioned below :

• For a large number of small producers globalisation has posed many challenges. Batteries, capacitors, plastics toys, tires, dairy products and vegetable oil industries have been hit badly due to competition.
• Many small units have been shut down rendering many workers jobless.
• As the small industries in India employ the largest number of workers (20 million) in the country, next only to agriculture, it has hurt the development.
  Thus, both arguments have some truth in them. However, if steps are taken to have a fair globalization, then the adverse effects may be minimised and may not hurt the country’s development.