Page 1 - MM-GLOBALISATION

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Chapter- Globalization
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In 1991, responding to a financial crisis and to the
desire for higher rates of economic growth, India Development of communication technology
embarked on a programme of economic reforms such as internet email & mobile phones have Ch
that has sought increasingly to de–regulate various been vital in the growth of globalization. apt
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sectors including trade and foreign investment. ise
Development of refrigerated &
container transport, bulk shipping
& improved air transport has
allowed the easy movement of Mind
goods across the trade.
Globalization Maps,

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Globalization is a multi-dimensional lit
concept. It has political, economic & International Organizations such ic
cultural manifestations and these must al
be adequately distinguished. as the WTO and the IMF also
promote free trade.

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Vast capital flow freely and
instantly throughout the world.
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The rapid growth of big MNCs such as –
• Fusion of powers of the state microsoft, etc., is also a cause of globalization. XII
• Does not always reduce state
capacity.

Emerges and enlarges our choices and modifies our
culture without overwhelming the traditional norms.
• It usually involves greater economic flow
among different countries of the world.
• Generates greater economic and well-being
for larger sections of the population.