The document discusses globalization and its effects. It defines globalization as the increasing economic interdependence between countries through growing cross-border flows of goods, services, capital and technology. It notes that globalization has led to merged global markets, sourcing from around the world, falling trade barriers, and technological innovation that facilitates communication and transportation. The document outlines both benefits of globalization, such as economic growth, and concerns, such as loss of jobs in some countries and power of multinational corporations.

2. Robert Alan said that :
“Together we can
help transform the
global economy
into a global
community. ”

3. Globalisation is the process which
enables the geographical, social,
cultural,political and economic
movement internationally more
easily.
"Globalisation refers to growing
economic interdependence among
countries as reflected in increasing cross-
border flows of three types of
commodities: goods and services, capital,
and know how."

4. A.Globalization of Markets:
It refers to the merging of national markets into one huge global
marketplace.
B.Globalization of Production:
It refers to the sourcing of goods and services from locations
around the world to take advantage of national differences in
the cost and quality of factors of production.
C.Falling Barriers to Trade and Investment:
The falling of barriers to international trade enables firms to
view the world as their market.
D.Technological Innovation:
Technological changes have achieved advances
in communication, information processing, and
transportation technology, including the
Internet and the World Wide Web .

5. Globalization has tremendously affected world in
various different aspects :
Industrial
Financial
Economic
Political
Informational
Competition
Ecological
Cultural
Social
Technical

6. Some of the steps taken to globalize our economy were:
1. Devaluation:
To solve the balance of payment problem Indian currency were devaluated by 18 to 19%.
2. Disinvestment:
To make the LPG model smooth many of the public sectors were sold to the private sector.
3. Allowing Foreign Direct Investment (FDI):
FDI was allowed in a wide range of sectors such as Insurance (26%), defense industries
(26%) etc.
4. NRI Scheme:
The facilities which were available to foreign investors were also given to NRI's.

7. •Economic growth has been high.
•Exports have boomed.
•Incidence of poverty has been reduced.
•Employment has surged and Long-term
inflation rate has gone down.
•Scarcity of goods have disappeared and the
quality of products available have improved
substantially .
•Indian companies are setting up companies
abroad.
• India has better technological development
for the benefit of the common man .

8. •There is an International market for companies and for consumers there is a
wider range of products to choose from.
• Increased free trade between nations.
• Increased liquidity of capital allowing investors in
developed nations to invest in developing nations.
• Corporations have greater flexibility to operate across
borders
• Global mass media ties the world together
• Increased flow of communications allows vital
information to be shared between individuals and
corporations around the world
• Greater ease and speed of transportation for goods
and people
• Reduction of cultural barriers
•Technological development has resulted in reverse
brain drain in developing countries.

9. •The outsourcing of jobs to developing
countries has resulted in loss of jobs in
developed countries.
•There is a greater threat of spread of
communicable diseases.
•There is an underlying threat of multinational
corporations with immense power ruling the
globe.
• For smaller developing nations at the receiving
end, it could indirectly lead to a subtle form of
colonization.

10. •Globalisation has shrunk the world
today now distance between two
countries is not there .
• It enables the geographical, social,
cultural, political and economic
movement internationally more easily.