Impact of globalization on the Indian Economy

Impact of globalization on the Indian Economy
Author(s):
Dr. Vinod Kumar
Keywords:
Liberalization, Privatization , Globalization, Universaliation.
Abstract
Globalization means economic globalization of economy of a country and it exert pressure on the government to become more publicly accountable, competitive and responsive to citizens. The UN document defines globalization as „increased and intensified flows between countries‟. These flows are of goods, services, capital, ideas, information and people, which produce national cross-border integration of a number of economic, social and cultural activities. The primary objective of liberalization is to free from the restrictions on production, expansion and following of rigid rules and regulations. This paper attempts to examine the impact of globalization on the Indian economy and provide a framework for administration to circumvent the overbearing effect of globalization in their efforts towards industrialization, economic growth and development. The study is based on primary as well as on secondary data and it is of descriptive type.
Article Details
Unique Paper ID: 159010 Publication Volume & Issue: Volume 9, Issue 11 Page(s): 138 - 144
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