The Economic Globalization Of India - 935 Words

Economic Globalization has swept across the world since the end of WWII. Slowly but surely all the nations across the world have been impacted by Economic Globalization. India for example, has been one of the countries that has been recently hit by the storm, and India’s economy can be seen to still be shooting up. In my paper I will be discussing the Economic Globalization of India, the roots of the globalization to occur, the effects it had and the negative effects it had. Effects such as foreign trade, economic growth and GDP (Gross Domestic Product). From the mid 90’s to current times India sees the effects of globalization, bringing India into one of the top countries in the world in terms of GDP being ranked at 10th in the world. The economic globalization in India began in the 90’s with the economic growth being credited to advances in IT (Information Technology) business. â€Å"One of the major forces of globalization in India has been in the growth of outsourced IT and business process outsourcing (BPO) services† (1). The past few years have seen more and more educated people due to India’s low cost of labor but educated and English speaking workforce. With economic globalization hitting India in the IT and BPO fields, it has allowed companies to expand their operations to India to take advantage of their massive growth opportunity. The ability for corporations to expand to India has enabled huge corporations to open up markets in India allowing for great success.Show MoreRelatedThe Economic Globalization Of India996 Words   |  4 Pages Economic Globalization has been sweeping across the nation since the end of WWII. Slowly but surely all the nations across the world have been impacted by Economic Globalization. India for example has been one of the countries that has been recently hit by the storm and India’s economy can be seen to still be shooting up. In my paper I will be discussing the Economic Globalization of India, the roots of the globalization to occur, the effects it had and the negative effects it had. Effects suchRead MoreImpact of Globalization on Indian Economy1572 Words   |  7 PagesGlobalization is the new notion that has come to rule the world since the nineties of the last century with the end of the cold war. The frontlines of the state with increased reliance on the market economy and renewed belief in the private capital and assets, a process of structural alteration encouraged by the studies and influences of the World Bank and other International organisations have started in many of countries. Also Globalisation has brought in new avenues to developing countries. 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