Globalization is the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture. Advances in transportation and telecommunications infrastructure, including the rise of the Internet, are major factors driving globalization and increasing interdependence among economic and cultural activities globally. India adopted economic reforms in 1991 involving liberalization, privatization, globalization, modernization, and fiscal reforms to increase economic growth, reduce fiscal deficits and poverty, and improve public sector efficiency. However, some criticisms of these reforms include negative impacts on agriculture, increased foreign debt and technology dependence, reduced employment opportunities, and greater focus on luxury goods production.

2. Globalisation is the process of international
integration arising from the interchange
of world views, products, ideas, and other
aspects of culture. In particular, advances
in transportation and telecommunications
infrastructure, including the rise of the Internet,
are major factors in globalization and precipitate
further interdependence of economic and
cultural activities.

4. Human interaction over long distances has
existed for thousands of years. The overland Silk
Road that connected Asia, Africa and Europe is
a good example of the transformative power of
international exchange that existed in the "Old
World". Philosophy, religion, language, the arts,
and other aspects of culture spread and mixed
as nations exchanged products and ideas.

6. Economic policy adopted by the government of
India since July, 1991 is termed as economic reforms.

7.  Liberalisation:- means removing unnecessary trade
restrictions and making the economy more competitive.
 Privatisation:- means removing strict control over private
sector and making them free to take necessary decisions.
 Globalisation:- means free interaction among economies
of
the world in the field of trade, finance, production,
technologies and investment.
 Modernisation:- means the new economic policy
according
to top priority to modern techniques and technology.
 Fiscal Reforms:- means controlling public expenditures and
increasing revenue in order to discipline expenditure.

8.  Increase in the Rate of Economic Growth
 Fall in Fiscal Deficit
 Price Control
 Reduction in Poverty and Inequality
 Improving the Efficiency of Public sector
 Development of Small-scale Industries

9.  Injustice to agriculture
 Heavy Dependence on Foreign Depts.
 Dependence on Foreign Technology
 Excessive Importance to Privatisation
 Reduction in Employment Opportunities
 Encouragement to the production of
Luxuries

10. WTO stands for World Trade Organisation. The
aim of this organisation is to conduct the
international trade among member countries.

11.  Establishing rule based trading regime, free
from arbitrary restrictions of the countries.
 Ensuring optimum utilisation of world
resources
 Protecting environment
 Promoting international trade by removal of
tariff and non-tariff barriers by providing
greater market access to member countries

12.  Administering WTO Trade Agreements
 Handling Trade Disputes
 Forum for Trade Negotiations
 Monitoring the National Trade Policies
 Technical Assistance and Training for
Developing Countries

13. Indian government put barriers to foreign
trade
and foreign investment after independence
on
account of the following reasons:-
 Self sufficiency
 Heavy investment
 Elimination of poverty and unemployment
 Control on core sectors

14. Indian government want to remove these
barriers because foreign trade creates
competition which is beneficial for the
customers And customer get goods at cheap
rate with better quality. Indian producers can
export their goods in other countries without
any barrier and earn handsome profit.

15. Outsourcing:- is the process of giving some internal functions of
the business to some outside vendor, who will take care of that
particular process to help the overall business objective.
Call Centre:- is a part of BPO which specially deals in taking
customer’s calls in case of inbound and making calls to
customers in case of outbound.
Multinational Companies (MNC):- is a company that owns or
controls production in more than one nation.
Business Process Outstanding (BPO):- is an organisation which
Works on different processes of different companies to help
them in reducing cost of operation and providing standard and
high quality service delivery.

16. MRTP Act:- Monopoly and restricted trade practises act was
established in 1970 to regulate the competitive environment
among companies.
Multi-lateral Agreements:- are the agreements entered by group
of countries.
Mixed Economy :- is a system in which private and public sector
work together.
International Monetary Fund (IMF) :- is an international financial
institution that helps member nations to overcome the scarcity
of foreign exchange.
IT (Information Technology) Sector:- provides hardware,
software, and other related services to companies based within
or outside the country.

17. Presented by
Nazal Noushad
X-B
N.I.M.S DXB