Impact Of Globalisation On India

Introduction

The objective of this investigative project is to discuss globalisation, analyse and evaluate the effects on developing countries, specifically India. The definition of globalisation according to Google is “the process by which businesses or other organizations develop international influence or start operating on an international scale.” Another definition from the BusinessDictionary.com is “the worldwide movement toward economic, financial, trade, and communications integration. Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers. However, it does not include unhindered movement of labour and, as suggested by some economists, may hurt smaller or fragile economies if applied indiscriminately.” Both definitions imply there are global prospects in trade and business moreover as suggested by BusinessDictionary.com it may harm Third World countries as globalisation is dominated by First World countries due to well known, thriving corporations established in their economies.

I would like to find who benefits most from globalisation in India. I chose India as it is a developing country and has a high gross domestic production but there are many people who are living in dire poverty. In 2013 India’s GDP was approximately $1.887 trillion which is particularly high for a developing country.

The impact