Question

Globalization: meaning and implications, phases, impact of globalization on indian economy ppt

Answer 1

Globalization (or globalisation ; see spelling differences ) is the increasing interaction of people, states, or countries through the growth of the international flow of money, ideas, and culture. Globalization is primarily an economic process of integration that has social and cultural aspects. It involves goods and services, and the economic resources of capital, technology, and data. [1][2] The steam locomotive, steamship , jet engine, and
container ships are some of the advances in the means of transport while the rise of the
telegraph and its modern offspring, the Internet and mobile phones show development in
telecommunications infrastructure. All of these improvements we enjoy in the modern era have been major factors in globalization and have generated further interdependence of economic and cultural activities. [3][4][5]
Though many scholars place the origins of globalization in modern times , others trace its history long before the European Age of Discovery and voyages to the New World , some even to the third millennium BC. [6][7] Large-scale globalization began in the 1820s. [8] In the late 19th century and early 20th century, the connectivity of the world's economies and cultures grew very quickly. The term
globalization is recent, only establishing its current meaning in the 1970s. [9]
In 2000, the International Monetary Fund (IMF) identified four basic aspects of globalization:
trade and transactions , capital and investment movements, migration and movement of people, and the dissemination of knowledge. [10] Further, environmental challenges such as
global warming , cross-boundary water, air pollution, and over-fishing of the ocean are linked with globalization. [11] Globalizing processes affect and are affected by business and work organization, economics, socio-cultural resources, and the natural environment. Academic literature commonly subdivides globalization into three major areas: economic globalization , cultural globalization , and political globalization .[12]
Etymology and usage
The term globalization derives from the word
globalize , which refers to the emergence of an international network of economic systems. [13] One of the earliest known usages of the term as a noun was in a 1930 publication entitled
Towards New Education , where it denoted a holistic view of human experience in education. [14] Charles Taze Russell (of the
Watch Tower Bible and Tract Society ) coined a related term, corporate giants, in 1897 [15] to refer to the largely national trusts and other large enterprises of the time. The term 'globalization' had been used in its economic sense at least as early as 1981, and in other senses since at least as early as 1944. [16] Theodore Levitt is credited with popularizing the term and bringing it into the mainstream business audience in the later half of the 1980s. Since its inception, the concept of globalization has inspired competing definitions and interpretations. Its antecedents date back to the great movements of trade and empire across Asia and the Indian Ocean from the 15th century onward. [17][18] Due to the complexity of the concept, various research projects, articles, and discussions often stay focused on a single aspect of globalization.

Answer 2

Globalization generally means integrating economy of our nation with the world economy. The economic changes initiated have had a dramatic effect on the overall growth of the economy. ... Globalization had its impact on various sectors including Agricultural, Industrial, Financial, Health sector and many others.