ipl-logo

Globalization Of India Essay

1617 Words7 Pages

Introduction
Globalization has opened up fresh and incredible prospects for worldwide developers. Inspired from the concept of globalization, in 1991 India made changes to the economic policy and integrated with the other economies in the world. “Globalization in India arrived just before the end of the cold war. India introduced changes in industrial and trade policies to improve its efficiency, productivity and competitiveness of its economy. Besides, it also brought changes in industrial licensing, foreign collaborations, investment by NRIs, portfolio investment by foreign institutional investment, reduction in tariff rate and simplification of export-import procedures, opening of the IT-sector, reducing public expenditure investment norms …show more content…

Globalization has extensive implications on India 's relations with the countries of the world as India’s economic accomplishment over the last two decades has attracted other regional and global forces to integrate with India. Henry Kissinger predicts that, “In the twenty-first century, the international system will be dominated by six major powers: the U.S., Europe, China, Japan, Russia and probably India.”(CCCCCC) Mr. Samuel Huntington added that, “India could move into rapid economic development and emerge as a major contender for influence in world affairs.” India’s Gross National Product (GNP) of $2.14 trillion in Purchasing power parity (PPP) terms is larger than that of three P-5 countries such as Russia, France and Germany. This way, in PPP terms, India’s economy is more than twice that of Russia. (CCCCCCC)2 The trade and foreign direct investment has also increased since 1991and there has also been increase in mnc’s in India.
Defining the Concept of Globalization
The concept of globalization is well known and has gained importance since the Cold war ended. Globalization is a very challenging concept; therefore defining …show more content…

Rodham, “Definitions of Globalisation: A Comprehensive Overview and Proposed Definition”, Geneva Centre for Security Policy, 19 July 2006, pp. 3, 7. International Journal of Interdisciplinary and Multidisciplinary Studies (IJIMS), 2015, Vol 2, No.3, 11- 18. 18
5 Philip G. Cerny, “Globalization and the Changing Logic of Collective Action,” International Organization vol. 49 (4), autumn 1995, p. 596
6 Uttam Ghosare (et.al), “Globalisation and its Impact on Indian Economy”, Abhinav: International Monthly Refereed Journal of Research in Management & Technology, vol. II, January 2013, p. 138. 7 Wayne Morrison and Alan Kronstadt, “India-U.S. Economic Relations”, CRS Report for Congress, Code RS21502, Updated 25 February 2004, pp. 1-3.
8 Manjeet S. Pardesai and Sumit Ganguly, “India and Energy Security: A Foreign Policy Priority”, in Harsh V. Pant (ed.), Indian Foreign Policy in a Unipolar World (New Delhi: Routledge, 2009), p. 98.
15 Nirupam Bajpai, "Global Financial Crisis, Its Impact on India and Policy Response", Columbia Global Centers Working Paper No. 5, July 2011, p. 7.
16 “State of Indian Economy: October 2012”, Report prepared by the Economics Division of Credit Analysis & Research Limited, 8 October 2012, pp. 4-5.
17 Refer to Chapter 14 on, “India and Global Economy”, in Economic Survey

Show More
Related

  • Analysis Of Iroquois Defeated By Passport Dispute, By Thomas Kaplan

    537 Words  | 3 Pages

    At the same time, the author presents the idea that not only does the issue address disregard for Indian sovereignty in the US, but internationally as well. The dispute does not end

    Read More

  • Modernized India Dbq Essay

    153 Words  | 1 Pages

    The British improved and modernized India which formed their efficiency that they have today. They established railroads and bridges so people can travel thru their country easier. The British also ingrained a fair trading system between India and British. Some may claim that it was not fair because the Indian textiles were getting sold less and less. From 1790 and so on the sales of Indian textiles progressively declined (Doc. 6).

    Read More

  • Dbq Essay On Globalization

    526 Words  | 3 Pages

    Throughout our lives, things around us have been changing, simple things, such as iPhones and other technology because of globalization. Globalization since the second world war has been mostly better for us than worse because there are decreased poverty rates and life expectancy has increased, but we are polluting our world with environmental destruction and Co2 emissions. Since the Second World War, extreme rates of poverty have decreased. According to Document 1, starting around 1950, there was a steep decrease in extreme poverty. It went from around 60% in 1950 to lower than 20% in 2015.

    Read More

  • British Indian Imperialism

    1393 Words  | 6 Pages

    The rule of the British Empire in the Indian subcontinent between 1858 and 1947 greatly affected the net economic status of India. Trade was the sole reason for the British East India company arrival in India, for the Industrial Revolution in Britain led to the increase in demand for raw materials in factories and India served as an efficient platform. However, as their influence started expanding, they created new policies and began to colonize India not only economically, but also socially and politically. Historians continue to debate whether the long-term impact of British rule in India was accelerating the economy or declining it. That being said, my paper is going to be assessing the positive and negative impacts on the Indian economy

    Read More

  • Pros And Cons Of Globalization In Colombia

    954 Words  | 4 Pages

    Globalization is the inclusion of the differents values socio-cultural and economic local from one country to another, through their relationships exchanged a series of products and knowledge that extend and increase their ideological and economic situation. Globalization is beneficial for businesses of Colombians. As well as has influenced in areas as the social, economic, cultural, political, technological and educational in our country, globalization has ventured into the business of Colombians to favor or disfavor wholesale sales. Globalization has been a transition process started from the time of conquest and colonization, this exchange of cultural contracted a new market with mobility and trade of products and goods which over time did not stop there, but rather it was intensified and point greater flowed recognition from the

    Read More

  • The Impact Of Globalization On Apple

    1025 Words  | 5 Pages

    Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world. The most common example of globalization might be Ebay or Amazon. Nowadays flows of goods and services are not only cheap and fast, but reliable and secure.

    Read More

  • Differences Between Globalism And Nationalism

    825 Words  | 4 Pages

    Many western countries are now shying away from globalism as a whole. Globalist and nationalist have begun to clash and argue with each other, leaving the world asking which system the world should follow. In order to ensure prosperity and success for every country, globalism is needed over nationalism to an extend. Since the majority of trade any country does is international, and it’s been shown that individual economies are interdependent on each, the current state of everyone’s economy is global.

    Read More

  • Globalization Case Study: Amazon

    1105 Words  | 5 Pages

    I. INTRODUCTION a. BACKGROUND: Globalization is a process of interaction and integration among the people, companies, and governments of different countries, a procedure compelled by international trade and investment, and supported by information technology. Furthermore, this process has an effect on various other systems such as on the environment, culture, political systems, economic development and prosperity and lastly, on human physical well-being in societies around the world. “Since 1950, for example, the volume of world trade has increased by 20 times, and from just 1997 to 1999 flows of foreign investment nearly doubled, from $468 billion to $827 billion” (York, 2016). Technology has been another primary driver of globalization,

    Read More

  • Pros And Cons Of Globalization In The Textile Industry

    954 Words  | 4 Pages

    The exceptionally notoriety of the word 'globalization’ signals a require for caution. The word was barely utilized some time recently the late 1980s, indeed in scholarly circles, but nowadays you can barely open a daily paper without experiencing the term. It might effortlessly show up to is an elegant name utilized to assign wonders around which one has as it were the vaguest thoughts. However to dispose of the concept of globalization, and the huge consideration agreed the marvels it envelops, on such grounds, would be silly. There is a genuine require for a common, non-specific term to portray the complex, multi sided ways in which the world is inter-connected, and progressively so.

    Read More

  • Importance Of International Relations Essay

    894 Words  | 4 Pages

    (1959) argued that, the study of international relations in the newly founded Soviet Union and later in communist China was stultified by officially imposed Marxist ideology, in the West the field flourished as the result of a number of factors: a growing demand to find less-dangerous and more-effective means of conducting relations between peoples, societies, governments, and economies; a surge of writing and research inspired by the belief that systematic observation and inquiry could dispel ignorance and serve human betterment; and the popularization of political affairs, including foreign affairs. Edward H. (1939) argued that, the international relations among other roles also it promotes the improvement of global economic governance and cooperation among emerging markets. The countries raise the voice and representativeness of developing countries in global economic

    Read More

  • Ethical Issues In International Business

    730 Words  | 3 Pages

    Introduction Globalization is a fact of Economic Life – Carlos Salinas De Gortari. Globalization is not a new thought. This process of interaction and integration among the companies, people and government of different countries is happening from ages. Technology has been the major driver of globalization. Economic life has been transformed dramatically by the advances in information technology.

    Read More

  • Essay On Causes Of Globalisation

    2111 Words  | 9 Pages

    Introduction Globalisation is the process that brings together the complaints nations of the world under a unique global village that takes different social & economic cultures in to consideration. First this essay will analyse globalisation in a broader term, second the history and foundation of globalisation that were intended to address poverty and inequality, third the causes that lead to globalisation and the impact that globalisation has on the world’s economy. The participation in the global economy was to solve economic problem such as poverty and inequality between the developed and developing nations. What is Globalisation?

    Read More

  • Swot Analysis Of International Trade

    892 Words  | 4 Pages

    Manufacturing sector on the other hand has grown in comparatively slower pace. The overall performance of the Indian manufacturing sector has widespread implications for various aspects of the economy; employment, being one of the chief areas of impact. Since this sector generates large scale employment for low and medium skilled workers, it is imperative to develop features which will create a conducive environment for industries to grow further. The Make in India campaign by the government has given the much needed push to the manufacturing sector. So we can say that India is performing decently and there is huge opportunity for India to grow and increase forex reserve and attract more FDI and FII by expanding its International

    Read More

  • Literature Review On Startup

    984 Words  | 4 Pages

    This is all because of the encouraging fiscal and monetary policies. The government is also very keen in encouraging the budding entrepreneurs. There are many fund houses now coming forward to provide funds and at the same time act as incubators. The FDI policies are also very encouraging; thereby the additional funds from other countries are also coming to our country. The same is also mentioned in “The Wall Street Journal”, the investments in Indian Start-ups are increasing over the period of last 5years, with the increase in the number of

    Read More

  • Factors And Impact Of Westernization In India

    1909 Words  | 8 Pages

    IMPACT OF BRITISH WESTERNISATION ON INDIA Srikanth P Y(13BBT0058) Manideep Reddy(13BCE0 ABSTRACT: According to M.N.SRINIVAS westernisation in Indian terms refers to the effect of British culture in the Indian society.

    Read More

More about Globalization Of India Essay

Open Document