Elucidate the relationship between globalization and new technology in a world of scarce resources, with special reference to India.

Globalization and technology are two sides of the same coin. They are complementary and a good interface between the two is sine-qua-non for growth and development in the contemporary global village.

Globalization stimulates the spread of knowledge and technology, helping spread growth potential across countries. Investments in education, human capital, and domestic research and development are thus essential to build the capacity to absorb and efficiently use foreign knowledge.

How globalization helps India to better the utilization of technology in scarce resources efficiently:

Israel - Cooperation in water resources development and management, both surface and groundwater, and particularly river basin management and impact of climate change on water resources.

Sweden: Torrefaction technology – to covert stubble into into a coal-like material to mitigate pollution 

Green steel technology – to reduce dependence on coal for making steel

Many people believe that issues of scarcity can be solved by using more efficient production methods. But this may overlook some of the unintended consequences of new technology. New technologies come to consumers as finished products. What consumers often don’t understand is that many of these technologies exist at the expense of other humans and local environments elsewhere.

As the global community becomes more aware of how their abundance is dependent on other human beings and the stability of environments, more and more will see commons-based businesses as the way of the future.

India need to harness the power of artificial intelligence (AI), the cloud, machine learning and the Internet of Things (IoT), considering the Scarcity of resources but in harmony with nature and humans.