...IMPACTS OF GLOBALIZATION ON INDIAN ECONOMY INTRODUCTION TO GLOBALIZATION: Globalization has many meanings depending on the context and on the person who is talking about. It refers to the increasing global relationships of culture, people and economic activity. Guy Brainbant: says that the process of globalisation not only includes opening up of world trade, development of advanced means of communication, internationalisation of financial markets, growing importance of MNC’s, population migrations and more generally increased mobility of persons, goods, capital, data and ideas but also infections, diseases and pollution. The term globalization refers to the integration of economies of the world through uninhibited trade and financial flows, as also through mutual exchange of technology and knowledge. Ideally, it also contains free inter-country movement of labour. The United Nations Economic and Social Commission for Western Asia defines globalization as: "a widely-used term that can be defined in a number of different ways. When used in an economic context, it refers to the reduction and removal of barriers between national borders in order to facilitate the flow of goods, capital, services and labour... although considerable barriers remain to the flow of labour... Globalization is not a new phenomenon. It began towards the end of the nineteenth century, but it slowed down during the period from the start of the first World War until the third quarter of the twentieth...
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...The Attitude of Youth Populations toward Globalization What exactly are the youth views on globalization? First let’s start by defining globalization. Globalization refers to increasing global connectivity, integration and interdependence in the economic, social, technological, cultural, political, and ecological spheres. Globalization is an umbrella term and is perhaps best understood as a unitary process inclusive of many subprocesses that are increasingly binding people and the biosphere more tightly into one global system (Wikipedia, 2007). Next let’s verify the term youth. Youth is "The time of life when one is young; especially: a: the period between childhood and maturity b: the early period of existence, growth, or development" (Wikipedia, 2007). “Globalizing issues have effects on four major areas of international relations theory and practice. First, the interconnectedness of the plethora of subissues within health, environmental, and human rights issues affect international bargaining” (Mingst, 2004). These issues are talked about daily in the news. Often times when health issues are brought up it is related to youth whether it is HIV, STD’s, or just simple obesity. Often times these issues when viewed at by youth are things that do not affect them in actuality it affect them more so than adults. “Second, these globalizing issues themselves may be the source of conflict” (Mingst). With this being said it is evident why the world goes through epidemics...
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...RESPONDING TO GLOBALIZATION: INDIA’S ANSWER 4th Ramanbhai Patel Memorial Lecture on Excellence in Education by Dr. C. Rangarajan Chairman Economic Advisory Council to the Prime Minister New Delhi February 25, 2006 Ahmedabad RESPONDING TO GLOBALIZATION: INDIA’S ANSWER I deem it a great honour to be invited to deliver the 4th Ramanbhai Patel Memorial Lecture on Excellence in Education. Shri Ramanbhai Patel was a true entrepreneur. He came to business from education and set up an indigenous pharmaceutical company, which later became one of the largest manufacturers of drugs and pharmaceuticals. He was deeply interested in the promotion of education and contributed liberally towards this cause. I am indeed happy that the Ahmedabad Management Association has instituted a lecture series to commemorate his memory. Ahmedabad Management Association is perhaps the most active management association in our country. It has become the forum for a discussion of variety of issues relating to industrial growth and business education. Its programmes and seminars have come to be recognized as being the most useful and well organised. May I take this occasion to congratulate the Ahmedabad Management Association on the excellent work it has been doing. It is a matter of great pleasure for me to be in Ahmedabad and to meet familiar faces. Globalization has become an expression of common usage. While to some, it...
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...Name: Tanvi Verma Guide: Prof. Ashok B. Lall Title: ‘ .’ The role of patrons in the attempt to correct the breaking continuity in Indian architecture INTRODUCTION Architecture has a history of over 5000 years, there is an important role played by the patrons of architecture. Over the years, there has been a shift in the style of architecture with the shifting patronage. It is the patron of architecture who brings about historical changes, other developments in architecture lead to evolutionary changes. In earlier times, the patrons where the kings or the rulers, the architecture that time was autocratic and power centric in nature. When India was colonized, British rulers gained dominance and the role of the older patrons got diluted with time. Colonial architecture was power centric and showed dominance. Post independence the patrons became the government agencies who wanted a modern national identity for the country. Later, this shifted to the private agencies and the nature of architecture also shifted from public sponsored to private. With the advent of globalization in the 1990’s, rapid socio cultural changes started taking place. With social, cultural and economic changes, the patronage also shifted to the ever increasing public sector that brought about a major change in the architecture, both its style and functions. The architecture of today is based on economy, efficiency, modern and progressive lifestyle and aspirations of people. With the...
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...International Research Journal of Business and Management – IRJBM ISSN 2322-083X Indian Technology and Globalization: A New Wrapper on Old Context Soma Bandyopadhyay Department of Computer Science and Engineering MCKV Institute of Engineering Howrah, India Basab Bandyopadhyay Department of Civil Engineering Professional Engineering Services Pvt. Ltd. Kolkata, India Abstract The objective of this paper is to explain the meaning of Globalization and to explore the impact of globalization in Indian context. Our study has two major goals: To analyse the globalization process before and after independence and to describe the main features of the Indian software industry, especially its competence and weakness. The study also reveals the trade and investment policies of the Government of India and its effects on Foreign Direct Investment. We have also done comparative study between Indian and Chinese economy, their strength and challenges. Keywords—Globalization; FDI; India; IT; China; Economic Policy; Industry; Technology. Introduction Globalization is a natural phenomenon of today’s world economies. However in the Indian perspective the globalization of its economy in general and science and technology in particular has taken varied course on its way to modern times. The key feature of this paper is to trace its path through the different periods, with special emphasis on the evolution of science and technology during this course. Different government policies adopted...
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... Global Negotiations Article Analysis Globalization has brought the world closer together and almost made it a requirement for businesses to develop plans and strategies to deal with different cultures. Businesses and managers must think on a more global scale and develop a global perspective to expand their businesses. In pursuing opportunities in the global marketplace, managers increasingly engage themselves in international business negotiations (Reynolds, Simintiras, & Vlachou, 2003). In this paper, I have decided to use an article that is an example of how a business failed in their negotiations overseas. I will also analyze the implications of globalization and technology on negotiation. International Negotiation Situation Article The article chosen for this paper involves Enron and their negotiations with the government of India and the Maharashtra State Electricity Board. The project proposal was for the construction of a US$3 billion power-plant in the town of Dabhol, situated on the Indian Ocean. There were many problems with the proposed project and the negotiations process that was undertaken by Enron. World Bank, acting as a consultant to the Indian government said that the project would produce an excess capacity of electricity for years and would be too costly in comparison to the more traditional sources of fuel, such as coal, already in use ("Enron’s Indian Negotiation Debacle " 1996-2012). The project was also too costly for...
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...the Nation in a Global Context Leah Rang University of Tennessee - Knoxville, lrang@utk.edu Recommended Citation Rang, Leah, "Bharati Mukherjee and the American Immigrant: Reimaging the Nation in a Global Context. " Master's Thesis, University of Tennessee, 2010. http://trace.tennessee.edu/utk_gradthes/655 This Thesis is brought to you for free and open access by the Graduate School at Trace: Tennessee Research and Creative Exchange. It has been accepted for inclusion in Masters Theses by an authorized administrator of Trace: Tennessee Research and Creative Exchange. For more information, please contact trace@utk.edu. To the Graduate Council: I am submitting herewith a thesis written by Leah Rang entitled "Bharati Mukherjee and the American Immigrant: Reimaging the Nation in a Global Context." I have examined the final electronic copy of this thesis for form and content and recommend that it be accepted in partial fulfillment of the requirements for the degree of Master of Arts, with a major in English. Urmila Seshagiri, Major Professor We have read this thesis and recommend its acceptance: Lisi Schoenbach, Bill Hardwig Accepted for the Council: Carolyn R. Hodges Vice Provost and Dean of the Graduate School (Original signatures are on file with official student records.) To the Graduate Council: I am submitting herewith a thesis written by Leah Rang entitled ―Bharati Mukherjee and the American Immigrant: Reimagining the Nation in a Global Context.‖ I have examined the final...
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...Introduction Indian economy had experienced major policy changes in early 1990s. The new economic reform, popularly known as, Liberalization, Privatization and Globalization (LPG model) aimed at making the Indian economy as fastest growing economy and globally competitive. The series of reforms undertaken with respect to industrial sector, trade as well as financial sector aimed at making the economy more efficient. With the onset of reforms to liberalize the Indian economy in July of 1991, a new chapter has dawned for India and her billion plus population. This period of economic transition has had a tremendous impact on the overall economic development of almost all major sectors of the economy, and its effects over the last decade can hardly be overlooked. Besides, it also marks the advent of the real integration of the Indian economy into the global economy. Now that India is in the process of restructuring her economy, with aspirations of elevating herself from her present desolate position in the world, the need to speed up her economic development is even more imperative. And having witnessed the positive role that Foreign Direct Investment (FDI) has played in the rapid economic growth of most of the Southeast Asian countries and most notably China, India has embarked on an ambitious plan to emulate the successes of her neighbours to the east and is trying to sell herself as a safe and profitable destination for FDI. Globalization has many meanings depending on the context and on...
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...“Global Consumer Culture is a beguiling illusion that completely glosses over the hard realities of national, ethnic and religious differences. It is therefore a dangerous fiction for the marketing manager to engage with.” Discuss, with examples. Introduction Globalization has made a more variety of products available for all consumers. In this sense, globalization increases differences, rather than generate homogenization (Lee & Usunier, 2009). Moreover, global influences are adapted to local circumstances; therefore, globalization results in an increasingly cultural diversity. The existence of a global consumer culture does not imply the disappearance of differences; rather, the modern culture results in the sum of these differences (Arnett, 2002). Global consumer culture (GCC) is a new stratum of common culture that superimpose on national cultures (Lee and Usunier, 2009) in the same way in which these overlap local traditions and subcultures existing within national boundaries, given the fact that most countries are already multicultural (Smith, 1991). Notably, it has been argued that culture is the most influential factor on consumer behaviour (Cleveland and Laroche, 2007); consequently, it is important to define the extent to which a modern global culture determine purchasing decisions, and these insights should inform marketing strategies. Therefore, the question is whether a GCC does exist, in which sense it should be interpreted, and how it does affect national cultures...
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...Globalization and its impact on Indian Economy: Developments and Challenges Globalization (or globalization) describes a process by which regional economies, societies, and cultures have become integrated through a global network of communication, transportation, and trade. The term is sometimes used to refer specifically to economic globalization: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology. Globalization as a spatial integration in the sphere of social relations when he said “Globalization can be defined as the intensification of worldwide social relations which link distant locations in such a way that local happenings are shaped by events occurring many miles away and vice – versa.” Globalization generally means integrating economy of our nation with the world economy. The economic changes initiated have had a dramatic effect on the overall growth of the economy. It also heralded the integration of the Indian economy into the global economy. The Indian economy was in major crisis in 1991 when foreign currency reserves went down to $1 billion. Globalization had its impact on various sectors including Agricultural, Industrial, Financial, Health sector and many others. It was only after the LPG policy i.e. Liberalization, Privatization and Globalization launched by the then Finance Minister Man Mohan Singh that India saw its development in various sectors...
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...ADMINISTRATION DEVELOPMENT & GLOBAL PERSPECTIVES IN 21ST CENTURY Dr. S.B. Ambhore Professor Dept of Economics Smt Dankuwar Mahila Mahavidalya Jalna Suresh Shravan Patil Arts, Commerce college Chanawad Nashik Introduction The Indian economic scenario has taken an ‘U’ shape turn over the recent past. India has witnessed a stagnant, tranquil and well protected economy since last several decades. The Indian organizations are constantly striving to improve their managerial competence in today’s competitive global world. To improve the productivity, Indian companies requires’ Management. Managerial activity being concerned with things done through people, managers have the opportunity of utilizing human resources to secure greater productivity, manager is a person who actually does and get others to do things. All the technological up gradations which are happening are because of the human resource, which shows the importance of management development for a global perspective. Today Mangers do not concentrate on one thing at a time; they work on a complex situation. Analytical skill and presence of mind the twin facets to achieve an end result. Convincing everyone on every situation is a tough task on the part of managers. In a complicated situation, management development is an effective tool for H.R.D. India at present requires successful managers to run successfully the industrial enterprises...
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...International Research Journal of Finance and Economics ISSN 1450-2887 Issue 5 (2006) © EuroJournals Publishing, Inc. 2006 http://www.eurojournals.com/finance.htm Impact of Globalization on Developing Countries (With Special Reference To India) Krishn A Goyal Department of Management Birla Institute of Technology, International Center Waljat Colleges of Applied Sciences, Muscat P. Box-197, PC-124, Rusayl, Muscat, Oman E-mail: kagoyala@gmail.com Phone 00968 92373238 Abstract The growing integration of economies and societies around the world – has been one of the most hotly-debated topics in international economics over the past few years. Rapid growth and poverty reduction in China, India, and other countries that were poor 20 years ago, has been a positive aspect of Liberalization Privatization and Globalization (LPG). But Globalization has also generated significant international opposition over concerns that it has increased inequality and environmental degradation. There is a need to study the impact of globalization on developing countries from the viewpoint of inward foreign direct investment. Attention should also be focused on the role which some developing countries, particularly from parts of Asia and Latin America, are playing as initiators of globalization through their own MNCs. India opened up the economy in the early nineties following a major crisis that led by a foreign exchange crunch that dragged the economy close to defaulting on loans. The response was...
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...Impact of globalization on Indian economy- An overview By: Tanveer Malik Introduction Indian economy had experienced major policy changes in early 1990s. The new economic reform, popularly known as, Liberalization, Privatization and Globalization (LPG model) aimed at making the Indian economy as fastest growing economy and globally competitive. The series of reforms undertaken with respect to industrial sector, trade as well as financial sector aimed at making the economy more efficient. With the onset of reforms to liberalize the Indian economy in July of 1991, a new chapter has dawned for India and her billion plus population. This period of economic transition has had a tremendous impact on the overall economic development of almost all major sectors of the economy, and its effects over the last decade can hardly be overlooked. Besides, it also marks the advent of the real integration of the Indian economy into the global economy. This era of reforms has also ushered in a remarkable change in the Indian mindset, as it deviates from the traditional values held since Independence in 1947, such as „self reliance” and socialistic policies of economic development, which mainly due to the inward looking restrictive form of governance, resulted in the isolation, overall backwardness and inefficiency of the economy, amongst a host of other problems. This, despite the fact that India has always had the potential to be on the fast track to prosperity. Now that India is in the process...
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...2 ICTs AND GLOBAL WORKING IN A NON-FLAT WORLD Geoff Walsham Judge Business School University of Cambridge Cambridge, U.K. Abstract This paper rejects the hypothesis of Thomas Friedman that ICT-enabled globalization is driving us toward a flat world. Instead, it is argued that the world remains uneven, full of seams, culturally heterogeneous, locally specific, inequitable, not well-integrated and constantly changing. This argument is supported by an analysis of three areas of ICT-enabled global working, namely global software outsourcing, global IS roll-out, and global virtual teams. The paper then builds on these analyses to put forward an agenda for future IS research on ICTs and global working based on three research themes: identity and cross-cultural working; globalization, localization and standardization; and power, knowledge, and control. The paper concludes that the area of ICTs and global working offers the IS field a major research opportunity to make a significant contribution to our understanding of a set of crucial issues in our more globalized world. Flat world, globalization, global software outsourcing, global IS roll-out, global virtual teams, IS research agenda, identity, cross-cultural working, standardization, power, knowledge, control Keywords 1 INTRODUCTION The changes taking place in the global economy, including those in the burgeoning services component, are the subject of much debate by a wide range of commentators including journalists, practitioners...
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...Bisht et al. Globalization and Health 2012, 8:32 http://www.globalizationandhealth.com/content/8/1/32 REVIEW Open Access Understanding India, globalisation and health care systems: a mapping of research in the social sciences Ramila Bisht1*, Emma Pitchforth2 and Susan F Murray3 Abstract National and transnational health care systems are rapidly evolving with current processes of globalisation. What is the contribution of the social sciences to an understanding of this field? A structured scoping exercise was conducted to identify relevant literature using the lens of India – a ‘rising power’ with a rapidly expanding healthcare economy. A five step search and analysis method was employed in order to capture as wide a range of material as possible. Documents published in English that met criteria for a social science contribution were included for review. Via electronic bibliographic databases, websites and hand searches conducted in India, 113 relevant articles, books and reports were identified. These were classified according to topic area, publication date, disciplinary perspective, genre, and theoretical and methodological approaches. Topic areas were identified initially through an inductive approach, then rationalised into seven broad themes. Transnational consumption of health services; the transnational healthcare workforce; the production, consumption and trade in specific health-related commodities, and transnational diffusion of ideas and knowledge...
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