Globalisation and it’s impact

Globalisation is the process by which social life within different societies is increasingly affected by international influences in almost all spheres- political, social, cultural, economic, technological, mass media, clothing etc. It is a process of growing integration and interdependence. 

Social impact 

• Migration 
• Internal - for better employment and education opportunities, facilities- health, communication etc. Urban lifestyle 
• external - for education, integration in world economy 
• urbanisation- increased opportunities in urban spaces, crowding of urban areas, beyond traditional social dynamics based on caste religion etc 
• flight from agriculture myth of urban life, seasonal nature of agriculture
• social movements- westernisation; McDonaldisation; ecofeminism; environment protection movements; fight against social, economic, political discrimination 
• gender dynamics - patriarchy; education; child care and household work; #Metoo as a global phenomenon; measure of gender inequalities; crimes against women; low behavioural changes; security of women 
• family dynamics- generation gap; rise in nuclear families; alienation and isolation of elderly 
• Rise in extremism, radicalisation, protectionism etc 

Political impact 

• Changing governance - rise in decentralisation; cities become center of growth; focus on upliftment of poor; better service delivery
• political dynamics- emphasis on sovereignty and integrity of nation; internal and external dynamics of laws and rules; of nation; increased importance to global opinion of leaders and countries 
• policy dimensions - universalisation of policies; common goals SDGs, MDGs etc; non discrimination; indivisibility; participation; rule of law; accountability; transparency; interdependence and inter relatedness 

Economic impact 

• LPG Era
• Indian economy remained isolated for a long time as India adopted democratic model of socialism. However over years it was realised that to remain isolated when the global world was increasingly getting integrated was counterproductive to Indian growth. 
• Starting in 1980s the economy slowly started opening up with full scale LPG Reforms from 1990 onwards after a Balance of payment crisis. 
• Liberalization 
• Integrate Indian economy with world economy
• Introduced liberalisation reforms like- abolition of industrial licensing, reduction and removal of quotas, tariffs etc. Removed licensing for all industries except important 18 industries providing a competitive and wider playing field
• removed restrictions on import of foreign capital and restriction on more entry under MRTP Act 
• industrial location policy was liberalised where industries could now be set up in locations other than cities with more than 1 mil population 
• Privatisation 
• process by which government transferred productive activities from public sector to private sector to increase efficiency and performance 
• shares of PSUs were sold off to retail investors and institutions 
• strategic sale of govt shares in PSUs while not exiting completely 
• Globalisation : pushed Indian companies into competition and survival of the fittest mode; needs of lower rung of society not adequately addressed by new incoming companies 
• technology
• new equipment’s and machines enhancing production 
• defence collaboration strengthen national security 
• space sector collaboration to study the earth better, better disaster preparedness and prevention and provide relief and aid to fellow countries during times of need 
• growth of India’s services sector 
• social media as a tool of interaction increasing globalisation of world in true sense 
• foreign investment - MNC’s etc 
• increased inflow of FDI investment in sectors led to more progressive growth of economy 
• stability better employment and job opportunities due to coming of new companies 
• corporate social responsibility
• scientific social responsibility 
• intellectual property

Globalisation has important implications for individuals and society. With the new focus on aatmanirbhar Bharat India is set to give a new direction to globalisation and it’s influence on India and India’s influence on the world.