Short Essay on Globalisation and the Indian Economy

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Most regions of the world are getting increasingly interconnected. While this interconnectedness across countries has many dimensions-cultural, political, social and economic; it is important to look at globalisation in a more limited sense.

Looking at the past thirty years, we find that MNCs have been a major force in the globalisation process connecting distant regions of the world. Why MNCs spreading so quickly and what are are the ways in which they are doing so, is a matter which involve thinking and discussion.

Integration of production and markets is a key idea behind understanding the process of globalisation and its impact. Globalisation over time has been facilitated by several factors.

Three of these very important factors are rapid improvements in technology, investment policies, and pressures from international organisations such as the World Trade Organisation (WTO).

Since globalisation is a reality, the question is to make the globalisation process more 'fair'. Fair globalisation would mean opportunities for all, and would also ensure that the benefits of such a process are better shared.


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