Expansion of idea Impact of globalization on developing india
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In this our India compete with other countries with new and improved technology. Before this India want to became a self reliant country
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The globalisation debate has been raging ever since it formally began in the mid-20th century with the opening of institutions like the World Bank and the International Monetary Fund (IMF).
In a technical sense, India opened up to globalisation much later in 1991 when it was felt important to liberalise market norms and allow privatisation to encourage the growth of its long-stagnant economy.
Historically, however, India has long preached ideals of Vasudhaiva Kutumbakam (the world is one family) and Sarve Bhavantu Sukhinah (may all be prosperous and happy), thus carving out the Indian model of globalisation.
Last year, India marked the silver jubilee of this venture which can be explained by concepts like Marshall McLuhan’s ‘Global Village‘ and Kenichi Ohmae’s ‘The Borderless World‘. It can also be expressed in terms of time-space compression, elaborated upon by theorists like Anthony Giddens.
When thinking about the impact of globalisation, it becomes important to mark at the outset that it has affected different countries differently.
The impact of globalisation has divided scholars across the world into its defenders and critics. While Marxists criticise it for expanding capitalism on a global scale, Islamic and Asian societies sometimes interpret globalisation as an attempt to impose Western values.
Noam Chomsky attributes the loss of many lives to capitalist wars, fought to force other countries to open their markets for the bourgeoisie in capitalist countries. Scholars like Immanuel Wallerstein blame globalisation for the poverty in Africa or wars in the Balkans. He sees globalisation as a ramification of capitalists’ quest for markets and acumen of capital.
In a technical sense, India opened up to globalisation much later in 1991 when it was felt important to liberalise market norms and allow privatisation to encourage the growth of its long-stagnant economy.
Historically, however, India has long preached ideals of Vasudhaiva Kutumbakam (the world is one family) and Sarve Bhavantu Sukhinah (may all be prosperous and happy), thus carving out the Indian model of globalisation.
Last year, India marked the silver jubilee of this venture which can be explained by concepts like Marshall McLuhan’s ‘Global Village‘ and Kenichi Ohmae’s ‘The Borderless World‘. It can also be expressed in terms of time-space compression, elaborated upon by theorists like Anthony Giddens.
When thinking about the impact of globalisation, it becomes important to mark at the outset that it has affected different countries differently.
The impact of globalisation has divided scholars across the world into its defenders and critics. While Marxists criticise it for expanding capitalism on a global scale, Islamic and Asian societies sometimes interpret globalisation as an attempt to impose Western values.
Noam Chomsky attributes the loss of many lives to capitalist wars, fought to force other countries to open their markets for the bourgeoisie in capitalist countries. Scholars like Immanuel Wallerstein blame globalisation for the poverty in Africa or wars in the Balkans. He sees globalisation as a ramification of capitalists’ quest for markets and acumen of capital.
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