How globalization has led to the reduction of employment in the formal sector of the Indian economy? Is increased informalization detrimental to the development of the country?

How globalization has led to the reduction of employment in the formal sector of the Indian economy? Is increased informalization detrimental to the development of the country? (GS 3)
भारतीय अर्थव्यवस्था में वैश्वीकरण के परिणामस्वरूप औपचारिक क्षेत्र में रोजगार कैसे कम हुए? क्या बढ़ती हुई अनोपचारिकता देश के विकास के लिए हानिकारक है?

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