Globalization refers to the increasing integration and interaction between people, ideas, goods and cultures around the world. It has accelerated dramatically in the early 21st century due to advances in technology and communication. Globalization impacts many aspects of society, including business, education, employment and culture. While it provides benefits like increased trade and access to resources, it also poses challenges such as rising inequality and threats to local industries.

1. Globalization is the process in which people, ideas and goods spread throughout the world,
spurring more interaction and integration between the world's cultures, governments
and economies. Globalization as a term came to prominence in the 1980s. the trade routes of the
Silk Road carried merchants, goods and travelers from China through Central Asia and the Middle
East to Europe and represented another wave of globalization.
The term is most frequently used in reference to creating an integrated global economy marked
by free trade, the free flow of capital and corporate use of foreign labor markets to maximize
returns. However, some use the term globalization more broadly, applying it to the movement of
people, knowledge and technology across international borders; some also apply it to the free
flow of cultural, environmental and political discourse. the early 21st century has seen a dramatic
increase in the pace of global integration, driven primarily by rapid advances in
technology and telecommunications. In general, money, technology and materials flow more
swiftly across national boundaries today than they ever have in the past. The flow of knowledge,
ideas and cultures are flowing with increasing speed as well, enabled by the near
instantaneousness of global internet communications.
OBJECTIVES
 Tostudy the growthof informationtechnologyandcommunicationandit’simpact manifestedineveryday life.
 Toexamineimpactofglobalizationonindustry; changesin employmentandincreasingmigration.
 Tobringout the changesintheagrariansectordueto globalization;risein corporatefarmingandincreaseinfarmer’ssuic ides.
Importance of Globalization In India
The importance of globalization is as follows:-
(a) Proper use of Resources: Globalization leads to expansion of markets and this enable organization to make proper
use of available resources.
(b) Multiple choices: No country is self sufficient and every country depends upon other country. Globalization has solved
this problem and people can have better choice to satisfy their need.
(c) Foreign Exchange: Globalization encourage exports and discourage imports. This help to earn foreign exchange.
(d) Creates Employment: Globalization helps to provide employment to a large number of people. Multinational
companies such as Business Process Outsource popularly known as Call centre employs and appoint a large number of
personnel with high pay scale and other benefits.
(e) Government incentives: Government also provides various incentives in taxes, custom duties, pre-shipment finance,
post shipment finance and many more. This is done to encourage globalization.
(f) Technology: Technology is the latest and fruitful outcome of globalization. It is the best even gift. Technologies not
only increase efficiently but the organization and everyone having a little knowledge can update one and can stand by

2. world. Globalization not only enables competition but also very much helpful for profit of maximization.
(g)Spreading of Risk of Loss: Business thy name is risk. There may be different types of losses in every business. Various
losses which may be in domestic market can be easily compensated from international market.
(h) Benefit to the consumers: Globalization encourages free and fair competition at world level. Due to this,
organizations try to supply quality goods and that also at a reduced price. This benefits consumers.
Impactof Globalization:
Impactofglobalization on education in India
Thereisimmenseeffectsobservedineducationalsectorduetoglobalizationsuchasliteracyrate becomehighandForeignUniversitiesare
collaboratingwithdifferentIndianUniversities. GlobalizationpromotesnewtoolsandtechniquessuchasE-learning,Flexible learning,Distance
EducationProgramsandOverseastraining.It is observed incurrentIndiansocietythat throughglobalization,womenhavegainedcertain
opportunitiesfor joboptionsand to recognizewomen'srightsas a part of the humanrights. Theirempowermenthasgiven considerable
opportunitiesandpossibilitiesofimprovingemploymentconditionsthroughglobalsolidarityandco-ordination.It is found that the growthof
computerandothertechnologiesenabledwomenwithbetterwaged,flex timings, andcapacityto negotiatetheir roleand status inhomeandat
corporatelevel.
Advantages of Globalization:
• globalizationhelpsto eradicatepoverty, malnutrition,illiteracy,ill-healthandfightingcrossborderterrorism andglobalterrorism.
 globalizationdevelopeda consumercreditsociety.Today,peoplecanbuygoodsandservices even if they donot have sufficient
purchasingpowerandtheprospectof raisinga loanhasbecomeeasyin the age of globalization.
• Thereisanimprovementinvarious economic indicatorsofthe LDCs(Less DevelopedCountries)suchas employment,lifeexpectancy,literacy
rates, per capitaconsumptionetc.
• Globalizationattractsentryof foreigncapitalalongwithforeignupdatedtechnologywhichimprovesthequality of production.
• Productsof superiorqualityare availableinthe market dueto increasedcompetition,efficiencyandproductivityof the businessesandthisleads
to increasedconsumersatisfaction.
• ) Globalizationfacilitatesconsumergoodsindustriestoexpandfaster to meetgrowingdemandfortheseconsumergoodswhichwouldresult
faster expansionof employmentopportunitiesovera periodof time. Thiswouldresulttrickledowneffectto reducetheproportionof population
living belowthe poverty line
• Globalizationhelpstoboost the longrun average growthrate of the economyofthe countrythrough:
(a) Improvementinthe allocativeefficiencyof resources;
(b) Increaseinlaborproductivity; and
(c)Reductionincapital-outputratio
Disadvantages of Globalisation:

3. • Domestic companiesareunabletowithstandcompetitionfrom efficientMNCswhichhavefloodedIndianmarketssincetheirliberalizedentry. It
mayleadto shut downof operations,pinkslips anddownsizing. Moreoverskilledandefficientlabor get absorbedby these MNCsthatoffer higher
pay andincentivesleaving unskilledlaborforemploymentinthe domestic industries.Thustheremaybe unemploymentandunderemployment.
globalization hasunfavorable impactonmass-mediainIndia.Currently, realistic coverageofevents andhappeningdoesn'treceivemuch
importancebecauseitdoesn'tdeterminethestandingof a newspaperorTVchannel.
• Globalizationpavesthe way for redistributionof economicpoweratthe worldlevel leadingtodominationbyeconomicallypowerfulnationsover
the poor nations.
With increaseddependenceonforeigntechnology,developmentofindigenoustechnologyhastaken a backseatanddomestic Rand D
developmenthassuffered.
• Globalizationposescertainrisksfor any countryinthe form of businesscycles,fluctuationsininternationalprices,specializationinfew
exportablesandso on.
• Globalizationusuallyresultsgreater increaseinimportsthanincrease inexportsleadingto growingtradedeficitandbalanceofpayments
problem.
• Globalizationisalsoposingas a threat to agricultureindevelopingandunderdevelopedcountriesofthe world.As withthe WTO trading
provisions, agriculturalcommoditiesmarketofpoor anddevelopingcountrieswillbefloodedfarm goodsfrom countriesata rate muchlowerthan
that indigenousfarm productsleadingtoadeath-blowto manyfarmers.
• It leadsto overcrowdingof citiesandputs pressureon the amenitiesandfacilitiesavailableinurbanareas.
Effects of Globalization on Global Communication
The process of globalization has widely increased the availability of information for people across the world. By the use
of Internet and advanced mobile services, people are able to discuss business plans and proposals on an international
level as well as exchange private data securely.
Business Conduct
Globalization has influenced global communication by implementing new techniques for business conduct
among workers at international corporations. Long-distance travels are no longer necessary for business
people should they require a meeting with a partner overseas. Internet technology makes it possible to
exchange business information and conduct video conferences. Additionally, enhanced communication allows
businesses to promote their products more efficiently on the international market.
Social Awareness
The availability of information, which is a direct effect of the development of global communication systems, has
led to increased social awareness of people across the world. Information technology and networks enable
them to share opinions, views, work on projects and research different areas.
Effects of globalization on Indian Industry
The various beneficial effects of globalization in Indian Industry are that it brought in huge amounts of foreign
investments into the industry especially in the BPO, pharmaceutical, petroleum, and manufacturing industries.
As huge amounts of foreign direct investments were coming to the Indian Industry, they boosted the Indian
economy quite significantly. The benefits of the effects of globalization in the Indian Industry are that many
foreign companies set up industries in India, especially in the pharmaceutical, BPO, petroleum, manufacturing,

4. and chemical sectors and this helped to provide employment to many people in the country. This helped reduce
the level of unemployment and poverty in the country. Also the benefit of the Effects of Globalization on Indian
Industry are that the foreign companies brought in highly advanced technology with them and this helped to
make the Indian Industry more technologically advanced.
The various negative Effects of Globalization on Indian Industry are that it increased competition in the Indian
market between the foreign companies and domestic companies. With the foreign goods being better than the
Indian goods, the consumer preferred to buy the foreign goods. This reduced the amount of profit of the Indian
Industry companies. This happened mainly in the pharmaceutical, manufacturing, chemical, and steel
industries. The negative Effects of Globalization on Indian Industry are that with the coming of technology the
number of labor required decreased and this resulted in many people being removed from their jobs. This
happened mainly in the pharmaceutical, chemical, manufacturing, and cement industries.
Conclusion:
We cannot say that the impact of globalization has been totally positive or totally negative. It has been
both. Each impact mentioned above can be seen as both positive as well as negative. However, it
becomes a point of concern when, an overwhelming impact of globalization can be observed on the
Indian culture.
the process ofglobalization has changed the industrial pattern social life of global people and it has
immense impact on Indian trade system. The globalization of the economic, social and cultural structures
happened in all ages. Previously, the pace of process was slow. Todaywith the start of the information
technology, new ways of communication have made the world a very small place. With this process,
there is a big market place. Globalization has resulted in increase in the production of a range of goods.
MNCs have established manufacturing plants all over the world. It has positive effects and India will
overcome many obstacles and adoptglobal policies to expand business at international scale. India is
gaining international recognition and strengthening in economic and political areas.
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