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DOI: 10.5281/zenodo.17539232
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Volume – III Issue -VI (No embe -Decembe ) 2025
F equency: Bimon hly
Globaliza ion: Oppo uni ies and Challenges o De eloping Na ions
D . Manisha Kuma i
1 Assis an P o esso , Depa men o Economics, Pa na Women‟s College(NAAC A ++) Pa na Uni e si y
| Recei ed: 30.10.2025 | Accep ed: 04.11.2025 | Published: 06.11.2025
*Co esponding au ho : D . Manisha Kuma i
Assis an P o esso , Depa men o Economics, Pa na Women‟s College(NAAC A ++) Pa na Uni e si y
In oduc ion:
Globalisa ion was b ough o India om 1991 AD, and he dolla
ese es in India we e $1.26 billion in 1990, which inc eased o
$658.9 billion in 2024. The e ms o globaliza ion e e o he
inc eased in e connec edness o economies, socie y, and cul u e
a ound he wo ld. The wo ld economy has become much mo e
in eg a ed since he Second Wo ld Wa , du ing he second wa e o
globalisa ion (BIS, 2017). This p ocess has p o oundly a ec ed
people‟s li es, in ha globalisa ion is widely conside ed o ha e
suppo ed he s ong income g ow h and signi ican po e y
educ ion o ecen decades, especially in eme ging ma ke
economies (EMEs). Globalisa ion, in pa icula , igh e ade
linkages, has also helped imp o e social condi ions mo e b oadly,
such as by na owing gende wage gaps (Black and B aine d,
2004), and i may ha e con ibu ed o a educ ion in in e -s a e
wa s (Lee and Pyun, 2008). Despi e hese bene i s, he e has been a
backlash agains globalisa ion and a g ea e suppo o inwa d-
looking policies in se e al de eloped coun ies. And in many
EMEs, globalisa ion has a ac ed a ai sha e o c i icism. Wha
explains his? Has he numbe o hose pe cei ing hemsel es as
lose s om globalisa ion g own? Indeed, e en he heo e ical
amewo ks ha show unambiguous gains om Globaliza ion
imply ha he e can be lose s. This no e analyses how globalisa ion
Abs ac
Globalisa ion on de eloping na ions such as India, B azil and Sou h A ica globalisa ion has b ough many changes In his
coun y including inc ease ade o eign in es men and echnology ans e i has helped c ea e job imp o emen in as uc u e
and ise li ing s anda ds howe e globalisa ion has also caused change like income inequali y loss o local indus y and
en i onmen al damage his s udy highligh s Bo h he posi i e and he nega i e e ec and sugges ion ha eme ging economics
should adap policies ha ensu e g ow h in inclusi e and sus ainable. India became he ou h-la ges global economy in 2025,
d i en by domes ic e o ms and global posi ioning unde he ision o A maniwa Bha a . India is he wo ld's as es -g owing
majo economy, wi h eal GDP g owing a 6.5% and nominal GDP ipling om ₹106.57 lakh c o e (2014-15) o ₹ 331.03 lakh
c o e (2024-25). Indica ional aspec s ha e been ecen ly co e ed elsewhe e; his no e ocuses p ima ily on he ise o ade
linkages and mig a ion and how his ela es o ou pu and p ices.
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has a ec ed EMEs. The nex sec ion discusses selec ed
mac oeconomic implica ions. Sec ion 3 explo es some o he
dis ibu ional consequences, seeking o iden i y which segmen s o
he popula ion ha e gained and which ha e no . Sec ion 4
conside s he impac o ends in mig a ion on EMEs‟ human
capi al. The las discusses policy challenges emana ing om
globalisa ion and how ce ain EMEs ha e esponded. Mo emen s
o goods, inance, and people associa ed wi h globalisa ion ha e
ans o med he wo ld economy o e he pas ew decades.
Howe e , as inancial aspec s ha e been ecen ly co e ed
elsewhe e, his no e ocuses p ima ily on he ise o ade linkages
and mig a ion and how his ela es o ou pu and p ices.
Objec i e
1. The p ima y objec i es o globaliza ion o eme ging
economies include d i ing economic g ow h, inc easing
ade and In es men , os e ing ade and in es men ,
os e ing echnological ans e , and ul ima ely
imp o ing li ing s anda ds.
2. The seconda y objec i es o globaliza ion o eme ging
economies Jobs in expo indus ies end o pay abou 15
pe cen mo e han jobs in impo -compe ing.
3. The e ia y objec i es o Globaliza ion has di e se
impac s on eme ging economies, o e ing oppo uni ies
o g ow h and de elopmen while also p esen ing
challenges like inc eased compe i ion and po en ial o
exploi a ion.
4. The qua e na y objec i es o Globaliza ion os e s
cul u al exchange and in e ac ion, po en ially leading o a
b oade unde s anding and a b oade unde s anding and
app ecia ion o di e si y.
Hypo heses:
Null Hypo hesis:
The e is no signi ican impac on he g ow h o India's economy
a e globaliza ion.
Al e na i e Hypo hesis: The e is a signi ican impac on he
g ow h o India‟s economy a e globaliza ion.
Resea ch Me hodology:
The p esen s udy is based on seconda y sou ces o da a ga he ed
om di e en sou ces, like, Economic Su eys, Economic
Budge s, go e nmen websi es, di e en issues o Economic and
Poli ical Weekly newspape s, e c. I is di ided in o di e en
sec ions, namely: in oduc ion, a ionale o inclusi e g ow h,
missing pa s o economic g ow h, sugges i e measu es, and
conclusion.
Li e a u e Re iew:
Con empo a y business is cha ac e ized by g owing globaliza ion.
Globaliza ion e e s o he p ocess o in e na ionaliza ion, ypical
o open economies. No economy in he wo ld oday aims me ely a
sel -su iciency (i.e., p oduc ion o sel -consump ion); a he , all
economies aim a sel - eliance (i.e., expo su plus su icien o
inance expendi u e on impo s). These economies can no longe
emain closed o au a chic; hey a e o ced o open up hei
economies, su i ing and g owing on he p inciples o
in e dependence. In e dependence be ween na ions may ake
speci ic o ms such as bila e al/mul ila e al ade, ans e o
echnology, join en u e, o eign collabo a ion, and so on.
Eme ging businesses all o e he wo ld hus canno escape he
in ading o ces o globaliza ion. Globaliza ion has in aded all
a eas o unc ional managemen in such way ha in he con ex o
global business, We alk o a ious o ces, ac o s and ace s such
as in e na ional ma ke ing, in e na ional inance in e na ional
p oduc ion, global sou cing, global ende ing, global endo ing,
in e na ional ec ui men and selec ion, managing people ac oss
cul u e, o eign licensing o eign collabo a ion In e na ional
ba e ing o coun e ade s a egic alliance be ween coun ıes,
be ween companıes, be ween manu ac u e s and ade s, be ween
echnology ınno a o s and adop e s and so on. Because o ade,
indi iduals, i ms, egions, and na ions can specialize in he
p oduc ion o hings hey do well and use he ea nings om hese
ac i i ies o pu chase om o he s hose i ems o which hey a e
high-cos p oduce s. The e o e, ading pa ne s can p oduce a
la ge join ou pu and achie e a highe s anda d o li ing han
would o he wise be possible. Economis s e e o his as he law o
compa a i e ad an age, which will be u he discussed in he
Chap e .
The Impac o Globaliza ion on Eme ging Economies:
The Wo ld De elopmen Repo (1998-99) p o ides
mac oeconomic indica o s o socio-economic de elopmen o e
selec ed yea s o mo e han 200 coun ies. The epo u ilizes he
"income-c i e ia' o classi ying economies. The GNP pe capi a is
used as an index o he de elopmen s age o an economy.
Coun ies wi h a pe capi a income o $785 o less in 1997 a e
g ouped as low-income coun ies (45 economies), while coun ies
ha ing a pe capi a income anging be ween $1135 a e classi ied as
low-income economies. (63 economies), while high-income
coun ies ha e a pe capi a income o $9656 o mo e (24
economies). Acco ding o his income c i e ion, mos pa s o
A ica and Sou h-Eas Asia ep esen he low-income se ; La in
Ame ica Middle Eas , and Sou h Wes e n A ica cons i u e he
middle-income economies. The es , including No h Ame ica,
Canada, Wes e n Eu ope, Aus alia, and New Zealand, cons i u e
he high-income coun ies.I is no ed ha he a e age annual
g ow h a e (1980-94) in GNP pe capi a is 2.3 pe cen agains he
in la ion a e o 9.5 pe cen o he de eloped coun ies, agains he
co esponding g ow h a e o 6.4 pe cen and in la ion a e o 9.7
pe cen o Eas Asia and he Paci ic, and 3.6 pe cen o g ow h
and 14.2 pe cen o in la ion o low-income economies. The use o
he Pu chasing Powe Pa i y Index (PPP) p o ides a be e insigh
in o eal g ow h and li ing s anda d pe o mance o hese
economies in he wo ld. Fo example, he cu en pe capi a income
in India is $370. To buy he same baske o wha can be pu chased
wi h $370 in India, one needs $1666 in he US. Thus, he
pu chasing powe o $370 in India is a pa wi h $1,665 in he US.
On PPPL, India and China a e g owing e y as . In e na ional
Economic T ends 49 Fu he classi ica ion o economies may be
done on he basis o geog aphic loca ion and demog aphic da a.
Popula ion densi y is highe in lowe - and middle-income
economies han in highe -income economies, while labou o ce
pa icipa ion a e is less han 25 pe cen in he Middle Eas and
No h A ica. I is in he ange o 30-35 pe cen in La in Ame ica
and India, whe eas i is be ween 50 pe cen and 70 pe cen in
Aus alia, he US, Russia, and Japan.The de eloped economies
accoun o abou 7 pe cen o he wo ld popula ion, whe eas he
middle-income economies accoun o abou 12 pe cen . A
buoyancy wi hin ade blocs, a g owing endency owa ds global
sou cing o p oduc ion, and g ea e indus ial ac i i y in ce ain
pa s o he wo ld. We may now shi ou a en ion om g ow h
ends o s uc u al shi s. We ha e p ocessed he Wo ld
De elopmen Repo da a o e lec on a ious s uc u al
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pa ame e s and shi s in hem ac oss na ions. The s uc u e o
p oduc ion shows a shi owa ds he se ices sec o , which
accoun s o abou 60 pe cen o mo e in high-income coun ies.
abou 50 pe cen in middle-income coun ies, and abou 30 pe cen
o 40 pe cen o low-income coun ies. P edominan ly ag a ian
economies emain unde de eloped, and he de eloping economies
a e unde going he p ocess o eal indus ializa ion wi h g owing
In ensi y o capi al and echnology in hei p oduc i e p ocess. The
s uc u e o demand also e eals a s iking pa e n. Concen a ing
on he 1993-94 da a, o he low-income coun ies excep China,
he pe cen age sha e o p i a e consump ion expendi u e in GDP is
qui e high (a ound 80 pe cen -90 pe cen ), whe eas he same o
he high-income coun ies excep Kuwai igu es a ound 50
pe cen - 60 pe cen . This is in line wi h he adi ional Engel's Law
o consump ion and he Keynes Fundamen al Psychological Law.
A highe le els o income, he p opensi y o consume is low. The
co esponding pe cen age o go e nmen consump ion expendi u e
in GDP does no show much a ia ion on he basis o he income
c i e ıa o classi ying he sa ings o na ions. measu ed in a e e ms
pe cen age sha e o g oss domes ic sa ing in GDP is e y high (0
pe cen ) o coun ies like Tanzania and China; mode a ely high
(a ound 30 pe cen ) o Indonesia, Columbia, I an, Ko ea, he UAR
and Japan; he sa ing a e is low (a ound 10 pe cen -15 pe cen )
o high income coun ies like he UK and he US. The in es men
a e measu ed by he pe cen age sha e o g oss domes ic capi al
o ma ion in GDP ela i ely highe in coun ies like Vie nam (44
pe cen ), China (40 pe cen ), Singapo e (44 pe cen ) and Ko ea (35
pe cen ) compa ed wi h coun ies in he middle-income g oup like
T an (29 pe cen ), Romania (27 pe cen ), Ge many and
Swi ze land (22 pe cen ). The s uc u e o demand has unde gone
only ma ginal shi s du ing he decade ending 1994. The changing
s uc u e o wo ld ade and paymen s is o conside able
signi icance o global business. In his con ex , he da a on bo h
commodi y-composi ion and coun y-composi ion needs ca e ul
analysis. Many de eloping coun ies in ecen yea s ha e
di e si ied expo s away om p ima y goods and aw ma e ials
and owa ds manu ac u ed goods. The Sou h-Eas Asian economies
ha e been mos success ul in his shi , suppo ed by
mac oeconomic s abiliza ion
The Impac o Globaliza ion on Eme ging Economies E ec in
India:
Globaliza ion is a signi ican ac o in a compe i i e wo ld ha
in eg a es and mobilizes he cul u al alues o people a he global
le el. In he age o apid echnical p og ession, many coun ies a e
uni ied and ans o med due o he p ocess o globaliza ion.
Globaliza ion has a huge impac on he cul u al, social, mone a y,
poli ical, and communal li e o coun ies. Abundan heo e ical
s udies demons a ed ha globaliza ion in e cedes in he cul u al
li e o he populace ha aising nume ous c i ical issues
(Robe son, 1992). In a b oad sense, he e m 'globaliza ion' means
a combina ion o economies and socie ies h ough c oss-coun y
lows o in o ma ion, ideas, echnologies, goods, se ices, capi al,
inance, and people. Globaliza ion is desc ibed by heo is s as he
p ocess h ough which socie ies and economies a e in eg a ed
h ough c oss-bo de lows o ideas, communica ion, echnology,
capi al, people, inance, goods, se ices, and in o ma ion. Main
elemen s o Globaliza ion include ee mo emen o goods and
se ices, low o capi al, he mo emen o labo , and ans e o
echnology ac oss na ional and in e na ional bounda ies.
Globaliza ion in India is gene ally unde s ood as he in eg a ion o
he coun y's economy wi h he es o he wo ld. Globaliza ion
p esen s bo h oppo uni ies and challenges o ou coun y, c ea ing
signi ican oppo uni ies in he manu ac u ing, ag icul u e, se ice
sec o s, and many o he a eas. Besides, he e has been a massi e
in low o o eign in es men s in o India, pe mi ing Indian
companies o pa icipa e in o eign collabo a ions and encou aging
hem o se up join en u es in e na ionally. Globaliza ion has
enabled domes ic ma ke e s o expo hei goods a e hei
success in he domes ic coun y, which has made India one o he
la ges ag icul u al p oduce s in he wo ld. Globaliza ion has made
an impac on he Indian ma ke by imp o ing he s anda d o li ing
and also by encou aging domes ic ma ke e s o p oduce inno a i e
p oduc s ha sui in e na ional s anda ds. The objec i e o his
s udy is o unde s and he impac o globaliza ion on he Indian
domes ic ma ke Globaliza ion, economy, g ow h, echnological
ends, in e na ional business, Globaliza ion & En i onmen o he
Globaliza ion in India, GDP g ow h, G ow h Ra e o a ious
sec o s o economy, B igh u u e o India because o Globaliza ion
a e in e ac ion be ween he na ions and sha ing o ideas, cul u e
and adi ion. This had a di ec impac on he p ocess o
globaliza ion. In he economic scena io, mo e ade links ook
place be ween coun ies on a global scale, which in luenced global
as well as domes ic economies o a g ea ex en . IT d i es he
inno a i e use o echnologies o p omo e new p oduc s and ideas
ac oss na ions and cul u es globally. Imp o emen s in compu e
ha dwa e, so wa e, and elecommunica ions ha e inc eased
people‟s abili y o access in o ma ion. Ad ancemen s in in e ne -
based ools such as social ne wo king websi es, Twi e , e c., ha e
changed he way people use and sha e in o ma ion o pe sonal,
poli ical, and comme cial pu poses o e he yea s. These
de elopmen s ha e acili a ed e iciency in all sec o s o he
economy. The applica ion o new digi al echnologies o
managemen , manu ac u ing, dis ibu ion, and se ices has
inc eased p oduc i i y.IT inno a ions ha e inc eased he e iciency
o business ope a ions. Technology is now he o e on o he
mode n wo ld, c ea ing new jobs, inno a ions, and ne wo king
si es o allow indi iduals o connec globally. Ad ancemen s in
echnology, om b oadband elephone lines o wi eless mobile
phones, om Black and Whi e bulky ele isions o colou ed LEDs,
a e all examples o globaliza ion. The e a e emendous
oppo uni ies o India in he e olu ion and ca e ul
implemen a ion o IT s a egies ha can ensu e economic secu i y
and economic powe o India.
Ag icul u al sec o :
The ag icul u al sec o is known o be he backbone o he Indian
economy, wi h an employmen o 70% o he popula ion in a ious
ag icul u al ac i i ies. Wi h globalisa ion, a me s we e encou aged
o shi om adi ional c ops o expo -o ien ed c ops such as
co on, obacco, e c. App op ia e use o ag icul u al equipmen ,
sui ed o he c ops and he egion o cul i a ion, leads o e icien
u ilisa ion o a ming inpu s, making a ming inancially iable and
p o i able. The e has been con inuous p og ess in a ming
mechanisms. Con ac a ming and co po a e a ming ha e been
encou aged by he go e nmen . Hence, ag icul u e plays an
impo an ole in in e na ional ade; p oduc s like ea, suga ,
oilseeds, obacco, e c., cons i u e he main ag icul u al expo in
India.
Educa ion Sec o :
The Posi i e impac o Globaliza ion on Educa ion in India is in
he o m o oppo uni ies; he e olu ion o In o ma ion echnology
has imp o ed he ela ionship be ween he economic de elopmen
o he coun y and highe educa ion. Highly skilled and educa ed
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DOI: 10.5281/zenodo.17539232
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people became an impo an pilla o he con ibu ion o economic
g ow h. Some Indian uni e si ies a e going global in e ms o he
educa ion s anda ds, which gi es ise o s i compe i ion in he
ield o educa ion om Fo eign Uni e si ies. Like he o he
sec o s, he e exis s a good balance be ween he indus ial and
educa ion sec o s. In India, he quali y o highe educa ion was an
impo an agenda o he go e nmen . O la e, he Indian e o m
policies ha e gi en much weigh o he quali y o highe educa ion.
This has been done keeping in iew he ac ha ou na ion needs
new echnology and educa ion o imp o e i s social and economic
li e. Fo eign uni e si ies ha e also opened hei doo s by
welcoming aspi ing s uden s by p o iding hem wi h Schola ships,
S uden isas, e c. The e is also a smalle gap be ween he con en
and s yle o he cu iculum. Globaliza ion has led his gene a ion o
nume ous employmen oppo uni ies due o he imp o emen s in
he quali y o educa ion. De eloped coun ies a e mo ing owa ds
de eloping coun ies o acqui e he labo o ce.
Employmen Sec o :
Globaliza ion has played a c ucial ole in he c ea ion o
employmen oppo uni ies in he coun y. A s udy o he impac o
globaliza ion on employmen in India poin s o ce ain ac o s:
LPG policies o he 1990s changed he employmen scena io in
India, which includes mac oeconomic s abiliza ion and
mic os uc u al change, i also measu es he labou ma ke o
inc ease labou ma ke lexibili y. The ma ke policies esul ed in
an imp o emen in he G oss Domes ic P oduc (GDP) o he
coun y, opening up he ma ke o Fo eign Di ec In es men s
(FDI) and Fo eign Ins i u ional In es o s (FII), which in u n
inc eases he GDP g ow h a e o an all- ime high. In he 1990‟s
his was © 2019 JETIR May 2019, Volume 6, Issue 5
www.je i .o g (ISSN-2349-5162) JETIR1905L65 Jou nal o
Eme ging Technologies and Inno a i e Resea ch (JETIR)
www.je i .o g 446 ollowed by a 4.5 o 5% inc ease in he GDP
ou pu . The g ow h in he IT sec o , Indian se ice Sec o , and
BPO sec o s ook he g ow h a e o 6% 2003. A e 2004, he GDP
g ow h a e eached 8.5%. In he hi d qua e o 2010, he GDP
g ow h a e eached 8.9%. F om 2004 un il 2010, India's a e age
qua e ly GDP G ow h was 8.40 pe cen , eaching a his o ical high
o 10.10 pe cen in Sep embe o 2006. Bu a e he ecession, he
GDP o he coun y ell o 5.36% in 2012, 6.39% in 2013, 7.51% in
2014, 8.01% in 2015, 7.11 % in 2016, 6.72% in 2017, and 7.37%
in 2018.
In e na ional T ade:
New economic policy made a huge impac on In199Sou ce:
Minis y o Comme ce and Indus y, Go e nmen o India om
Table, i is clea ed ha , a e he new economic policy in 1991, he
Expo o India inc eased o e he i showed declined end and he
a e o change in expo luc ua es du ing he pe iod unde s udy
impo also inc eased o e he yea s excep in 2009-10, 2015-16,
and 2016- 17. In 2016-17, he a e o change in impo s was highe
han he a e o change in Expo s. To al ade also inc eased in
yea s excep 2009-10, 2015-16, and 2016-17, while he balance
ade was nega i e in each yea .
Tou ism and Hospi ali y Sec o :
Indian Tou ism and Hospi ali y has seen g ow h in he economy
a e globaliza ion. Due o globaliza ion, he Tou ism sec o has
had an impac on he na ional e enue, and de elopmen in his
indus y has con ibu ed o ou ism policy, along wi h planning o
a ious businesses and p ac ices. Tou ism is a global o ce o any
economic o egional de elopmen , and inc eases employmen
oppo uni ies and g ow h in business. Cul u e is in luenced by
ou ism, whe e mos people choose o a el o lea n abou
di e en cul u es, and he e o e, local cul u es a e impac ed due o
ou is s. The hospi ali y indus y in India is he as es -g owing
indus y. Globaliza ion inc eases he g ow h o he cul u al
dimensions in e ms o knowledge o indi iduals, like he
manage s o he Hospi ali y indus y, who lea n abou he a ious
cul u es o he wo ld. As hey deal on he global pla o m and ge
he chance o mingle wi h a ious people om di e en
backg ounds and na ions. This indus y became he hi d-la ges
o eign exchange ea ne , con ibu ing o he g ow h in he
economy. © 2019 JETIR May 2019, Volume 6, Issue 5
www.je i .o g (ISSN-2349-5162) JETIR1905L65 Jou nal o
Eme ging Technologies and Inno a i e Resea ch (JETIR)
www.je i .o g 448 Fac o s Tha Ha e Enabled- Globaliza ion in
India Technology Rapid imp o emen in echnology has been one
majo ac o ha has s imula ed he globaliza ion p ocess.
Libe aliza ion o Fo eign T ade & Fo eign In es men Policy:
Remo ing ba ie s o es ic ions se by he go e nmen is wha is
known as libe aliza ion. Wi h libe aliza ion o ade, businesses a e
allowed o make decisions eely abou wha hey wish o impo o
expo . The go e nmen imposes much ewe es ic ions han
be o e and is he e o e said o be mo e libe al. Wo ld T ade
O ganisa ion (WTO): Nea ly 150 coun ies o he wo ld a e
cu en ly membe s o he WTO (2006). Though he WTO is
supposed o allow ee ade o all, in p ac ice, i is seen ha he
de eloped coun ies ha e un ai ly e ained ade ba ie s. On he
o he hand, WTO ules ha e o ced he de eloping coun ies o
emo e ade ba ie s. Indus ial Policy Indus ial policy has seen
he g ea es change, wi h mos cen al go e nmen indus ial
con ols being disman led. T ade Policy: T ade policy e o m has
also made p og ess, hough he pace has been slowe han in
indus ial libe aliza ion. Fo eign Di ec In es men : Libe alizing
o eign di ec in es men was ano he impo an pa o India's
e o ms, d i en by he belie ha his would inc ease he o al
olume o in es men in he economy, imp o e p oduc ion
echnology, and inc ease access o wo ld ma ke s. Re o ms in
Ag icul u e: The sha e o India's ag icul u al expo s in wo ld
expo s o he same commodi ies inc eased om 1.1 pe cen in
1990 o 1.9 pe cen in 1999, whe eas i had declined in he en
yea s be o e he e o ms. Bu while ag icul u e has bene i ed om
ade policy changes, In as uc u e De elopmen has seen apid
g ow h in a globalized en i onmen a well- unc ioning
in as uc u e, including especially elec ic powe , oad and ail
connec i i y, elecom-communica ions, ai anspo , and e icien
po s. Financial Sec o Re o m: Banking sec o e o ms included:
(a) measu es o libe aliza ion, like disman ling he complex
sys em o in e es a e con ols, elimina ing p io app o al o he
Rese e Bank o India o la ge loans and educing he s a u o y
equi emen s o in es in go e nmen secu i ies; (b) measu es
designed o inc ease inancial soundness, like in oducing capi al
adequacy equi emen s and o he p uden ial no ms o banks and
s eng hening banking supe ision; (c) measu es o inc easing
compe i ion, like mo e libe al licensing o p i a e banks and ee
expansion by o eign banks P i a iza ion: The public sec o
accoun s o abou 35 pe cen o indus ial alue added in India,
bu al hough p i a iza ion has been a p ominen componen o
economic e o ms in many coun ies, India has been ambi alen on
he subjec un il e y ecen ly. Ini ially, he go e nmen adop ed a
limi ed app oach o selling a mino i y s ake in public sec o
en e p ises while e aining managemen con ol wi h he
go e nmen , a policy desc ibed as “disin es men ” o dis inguish i
om p i a iza ion.
Copy igh © ISRG Publishe s. All igh s Rese ed.
DOI: 10.5281/zenodo.17539232
116
BENEFITS OF GLOBALIZATION:
Globaliza ion help in he ee low o capi al om one coun y o
ano he . Globaliza ion inc eases he low o capi al om su plus
coun ies o he needy, which in u n inc eases global in es men
and imp o es he economies o he coun ies. Globaliza ion helps
in he low o echnology om de eloped coun ies o de eloping
coun ies. This leads o an imp o emen in he echnology and le s
he de eloping coun ies implemen he imp o ed
echnology. Globaliza ion esul s in he shi o manu ac u ing and
p oduc ion acili ies o low-wage de eloping coun ies. This
educes he job oppo uni ies in he de eloped coun ies and
ensu es ha hose job oppo uni ies a e c ea ed in he de eloping
coun ies, and his leads o an imp o emen in employmen , which
in u n inc eases he s anda d o li ing o he people. Globaliza ion
in he ag icul u al sec o o India showed emendous
imp o emen s by adap ing o he new-age machine y and he new-
age echniques o a ming, which in u n led o an imp o emen in
Ag icul u e. The educa ion o a coun y leads o an inc ease in he
quali y o wo k done in he assigned jobs. I is a e globaliza ion
ha he Indian educa ion sys em ose o ame, by p o iding
educa ion ha is on pa wi h in e na ional s anda ds, as s uden s
om o he coun ies a e ying o seek educa ion in he p emium
uni e si ies o he coun y. Globaliza ion has led o a mo e
in eg a ed wo ld, and many eme ging smalle communi ies ha a e
in u n connec ed o many o he s. Globaliza ion o he Indian
economy wi h he wo ld economy has bene i ed because i has
gi en a boos o o eign capi al in lows in he o m o po olio
in es men and o eign di ec in es men (FDI). CONCLUSION
The s udy analyzed he impac o globaliza ion on he g ow h o
i ms in he Indian manu ac u ing indus y du ing pos pos - e o m
pe iod. An empi ical analysis a he mic o le el o i ms in he
Indian manu ac u ing indus y showed an impo an inding ha
among a ious aspec s o globaliza ion, he impo ed capi al goods,
conside ed o be he main sou ce o echnology ans e , ha e a
posi i e and signi ican ole in gene a ing g ow h o i ms. The
o he main aspec o globaliza ion, expo o ien a ion, has also
been ound o ha e a posi i e and signi ican e ec on he g ow h
o i ms. Thus, he s udy concludes ha he globaliza ion o he
Indian economy has a signi ican impac on he g ow h o i ms in
he manu ac u ing indus y. Hence, globaliza ion may lead, in
gene al, o he g ow h o i ms in o he de eloping economies as
well. Globaliza ion is a p ocess o apid in eg a ion o coun ies,
since hen Globaliza ion has gi en a wide choice o consume s in
all a ie y o goods and se ices Globaliza ion gi es oppo uni y o
choose a ie y o „goodies‟ a a much lesse p ice 450 o
consume s when i was in oduced in India MNC‟s a e playing a
majo ole in he p ocess o globaliza ion and has also con ibu ed
o he GDP o he coun y which o la e is su e ing due o
demone iza ion and GST. Globaliza ion in India has b ough in
many posi i es in he ield o comme ce and indus y, ag icul u e,
employmen , cul u e, e c. which in u n imp o ed he s anda d o
li ing o he people. The Indian go e nmen libe alized he ade
and in es men due o p essu e om he Wo ld T ade
O ganiza ion. Impo du ies we e cu down phase-wise o allow
MNC‟s ope a e in India on an equal basis. As a esul ,
globaliza ion has b ough o India new echnologies, new p oduc s
and also economic oppo uni ies. India has la gely bene i ed om
he impac o globaliza ion. Hence, Globalisa ion has impac ed
e e y aspec o Indian socie y, i s cul u e and economy. Though i
can bene i e en u he when i becomes a ne expo e o cul u al
and echnological goods and se ices. This eali y needs o change
o a ou Indian needs. We mus c ea e a kind o globalisa ion ha
no only makes he ich iche bu equips he poo o en ich hei
li es, hen i will be he ue me i o globaliza ion. The main
inding o his pape is ha India‟s economic g ow h has ecei ed a
s ong impe us in he pos -1991 e a. Flowing wi h globaliza ion,
India is shining in nea ly e e y pe spec i e. GDP g ow h has
helped o imp o e India‟s global posi ion. Globaliza ion has also
a ec ed India‟s in e na ional ade posi i ely bu e en han India‟s
sha e in in e na ional ade is e y low. India is ge ing global
ecogni ion and slowly mo ing owa ds o become a majo
economic and poli ical s eng h. India needs o launch a „second
gene a ion‟ o economic e o ms and he e o ms mus be based on
he long- e m ision o ans o ming India in o a global economic
powe in he nex wen y o wen y- i e yea s. The e o e, he e is a
emendous impac on he Indian economy and ad ancemen s in
di e en ields due o globaliza ion.
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