Globalization and its impact on India
Introduction: Globalization can be defined as integration of economies and countries through cross country flow of foreign trade, investment, ideas, technologies, capital, finance, goods, services and people. Globalization can be described as a process by which regional economies, societies, and cultures have become integrated through a global network of communication, transportation and trade. The process of globalization can be explained as a gradual removal of hurdles of the investment among the countries. It is the fully-free economic operations across the borders of the countries. It also benefits to the region, who have skill and technology. In India, the economic reforms of early 1990’s, has witnessed a rapid rise in the economic growth. It also helped in reducing the unemployment, improvement in standard of living, better purchasing power and reduction in poverty. With a step of ‘Liberalization Privatization and Globalization’, in 1991 a new chapter was o...