What are the economic implications of globalisation ? How has globalisation impacted on India with regard to this particular dimension ?
(i) Generally economic globalisation is related to the role of international institutions like the IMF and the WTO and the role they play in determining economic policies across the world.
(ii) The economic globalisation leads to flows or exchange of commodities, capital, people and ideas across national boundaries.
(iii) It has increased trade in commodities across the globe because restrictions imposed by diffirent countries on allowing the imports of other countries have been reduced.
(iv) Investors can invest their money in countries other than their own, particularly in developing countries, where they might get better returns.
As a result of liberalisation and globalisation, India has de-regulated various sectors including trade and foreign investment. However, it is yet too early to evaluate the effects of economic globalisation on India because its effects will be judged by the test that the benefits of growth are shared so that everyone is better off.
