GLOBALISATION

Is the process of

rapid integration

or interconnection
between countries

Globalisation

Globalisation could involve all these things!

FEATURES OF GLOBALISATION
New markets growing global market in services- banking,

insurance, transport

New financial markets- deregulated, globally linked Global consumer markets with global brands.

New tools of communication

Internet and electronic communication. Cellular phones.

Fax machines.
Faster and cheaper transport by air, rail and road.

STAGES OF GLOBALISATION
Exporting Joint ventures

multinational
Transnational Global

Essential conditions for globalization

Business freedom

Facilities
Government freedom Resources

Competitiveness
Orientation

Impact of globalization on India

Its two prospectives are CULTURAL CHANGE

ECONOMICAL CHANGE

THE BRIGHTER SIDE OF GLOBALIZATION

The rate of growth of the GDP of India

The foreign exchange reserves

Indias trade deficit The fluctuation in Foreign portfolio Investment

Share in world exports raise from 0.52% in 1990 to

1% in 2007 The rate of growth of per capita income

DARKER SIDE OF GLOBALIZATION

Industrialization did not take place as per

expectation. Share of agriculture in the GDP The number of rural landless families Corruption, lack of efficiency in work and ineffective management became the common features of public sector Decreased FDI

Cont
Our progress in education has been slow and

superficial , without depth and quality, to compete the international standards. People depending on agriculture in India is about 60% where as the same for U.K. is 2% and U.S. is 2%.

Role government can play in making the globalization a success

1) Government should prepare such policies that

must protect the interest , not only of the rich and the powerful but of all the people in the country. 2) Government can ensure that labour laws are properly implemented and workers get their rights. 3) Government can reserve some items exclusively for small scale and local producers.

Cont
4) If necessary, the government can use trade and

investment barrier like quota system, imports, duties etc. 5) It can negotiate with the WTO for fairer rules. 6) It can align with other developing countries with similar interest to fight against the domination of developed countries in the WTO.

CONCLUSION
The benefits of economic reforms on the Indian

Economy would get achieved, only if the negative impacts are settled or neutralized. Globalization has changed us into a company that searches the world, not just to sell or to source, but to find intellectual capital- the worlds best talents and great ideas.