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 c...