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.

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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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