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Essay on Impact of Globalization

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Essay in very simple language with the boundaries of different words here. Here you can find Essay on The Impact of Globalization in English language for 5, 6, 7, 8, 9, 10, 11, 12 and banking or other competitive exams students in 700, 850 and 2250 words.

Essay on Impact of Globalization - 700 Words

Globalization has many negative meanings even after becoming the head of world trade. Many people believe that globalization is not only a threat to their career and income prospects. This has been a derogatory term in America, because many heroes have refused to see the positive impact on globalization, but have brought other countries too, but also in our homes and businesses.

Perhaps unlike globalization which does not really understand all the positive benefits, and has been created. Perhaps we can blame it on ignorance and people are still in the globalization of positive influences on our country. To correct this, we are going to list four positive effects of globalization, perhaps once they know how beneficial globalization is,

What is globalization?

It may be that people who oppose globalization do so, it is difficult to define such a powerful process in the form of globalization, the most accurate answer is the process by which governments and companies are able to negotiate and integrate. It takes its global business and business, however, there is more to globalization than international trade. Communication, business, economics, financial and living standards are also a part of it. Technology is the main driving force behind globalization and uniformly economic opportunities have improved for companies and consumers.

Money equality

Many opponents of globalization claim that they have spoiled their standard of living. Since American residents are accustomed to keeping clean drinking water, food on the table and a roof over our heads. We have forgotten about the rest of humanity, that is, drink water, go without food without food, and call Martha's bed at your house.

Globalization has helped countless people in developing countries. It has created an opportunity to invest in emerging markets and discover talent that has been previously idle, allowing people in developing countries to work and use this opportunity to start their own companies.

Did globalization stop 2016 business model for a new 2017 model? Perhaps, but globalization has made it possible for hundreds of thousands of people for millions of people around the world, with a better level of life.

Widespread competition

When there are many companies competing for the business of the consumer, it makes a beneficial opportunity for the consumer. This not only causes pricing competitions among various competing companies, it also means that the quality of goods and services has increased. So, the prices fall, quality increases, what's wrong in it?

This became possible because the business started entering international boundaries and introduced better standards in parts of the global market where consumers had previously limited options. With this increase in competition, manufacturers and suppliers have done better pricing and better products.

Increase in market efficiency

One benefit which has improved market efficiency. Market demonstrates efficiency when customers are willing to pay goods or services that are willing to offer. By outsourcing, manufacturers and companies can obtain components and materials that maintain the quality but are bought at lower cost, thereby offering their services or products at a lower cost and increasing demand for their products or services. Even if prices remain the same, then companies can allocate additional profits in other areas, such as more investment, expansion, or increment.


It may seem far-reaching, but when both countries rely on a stable economy, there is a possibility of a conflict between the two, globalization, perhaps indirectly, has helped prevent many conflicts at different points. Yes, worldwide violence is still happening and it is extremely unlikely that globalization or any other work will stop all conflicts, but it has helped.

The derogatory term "globalization" has created opportunities in those areas where there was no hope, helped people to maintain a better level of life and education, which helped countries to understand better cultural understanding of other countries, and for many countries There was a difference in foreign relations. How can people say that globalization is "bad", it seems that people were calling rock 'nine music "devil's music" decades ago. Maybe now we can do what globalization can do for the rest of the world and the rest of the world, its a small picture, few people will oppose it and consider it to be more negative and negatively stop watching it.

Essay on Impact of Globalization - 850 Words

Globalization has emerged as one of the most used periods in which there is no universally accepted definition. Opinions around the world are divided into both support and opposition. Globalization is derived from the word "global", which means covering the world.

Thus, globalization is something that covers or relates to the whole world rather than being confined to a particular country. Along with the development of modern science and technology, the whole world has clasped together as a global village. What happens in one country affects the others.

We are using internationalism as a political process. This process highlights the increasing political, social, economic and cultural relations between different countries of the world. Now globalization is advocated as a process for the purpose of integrating the whole world system. This is the integration of a nation's economy with the world economic system.

Globalization means different things for different people. Economists consider this as a step towards the fully integrated world market. Some political scientists see it as a march away from the traditional concept of the state.

In the world system, the state's sovereignty has been challenged with the emergence of non-governmental power players. Globalization is not an event but rather a process that has arisen with the liberalization and privatization of economic areas. Its purpose is to establish a limitless world.


Countries with socialist economic system and mixed economy failed to achieve targeted economic growth. In the 1980s, the public sector suffered losses due to non-responsibility of bureaucratic inefficiency, red-tapism, political interference, corruption and management authority. Where there is a 'monopoly' due to lack of competition, there is inefficiency.

Thus, the public sector failed to produce profitable results and generated huge financial losses. Economic growth was an increase in prices, capital shortage, lack of technical know-how and slow pace. The situation demanded Soviet Russia to start economic reforms through "pastorica". More or less, India had to face the same situation. To remove the situation, P.V. Narasimha Rao government adopted a new economic policy of liberalization and privatization.

Prior to 1970, the industrialized developed western countries had to face the financial crisis. Economic depression reduced the benefits of large industries. Based on their market, entrepreneurs wanted to expand their business to other countries of the world. While these western companies were looking for a market in different parts of the world, the socialist state wanted them in the privatization process of public areas.

Countries of undeveloped third world also felt the need for foreign capital and technical know-how for their economic development. The process of economic liberalization began in the form of pre-condition of globalization. In this way, the capital, technical knowledge, labor, profit, managerial skills, etc., enter the second reduction from one nation to the regional boundary, with the primary goal of expansion of trade and trade.

Globalization is in the form of a negative process, for the eradication of protective economic policies which was first adopted in national interest. Governments had created trade barriers by increasing tariff rates and banning imports of foreign goods. Globalization is to eliminate such negative hurdles for free flow of goods and capital.

Speaking positively, globalization encourages free world trade, free enterprise and market forces. It advocates for the process of integrating the domestic economy with the world economy through increasing cooperation among entrepreneurs. In this process, they may have access to more capital flows, technical know-how, cheaper imports and larger export markets.

Globalization in India:

India became independent as one of the poorest countries in the world. British colonial rule destroyed self-reliant agricultural economy. Prime Minister Jawaharlal Nehru gave priority to mixed economy for the planned economic development of the country. Public sectors were established with many private enterprises. But like the socialist model of the economy, India's mixed economy has not produced profitable results.

Many public sectors became sick and production growth rate began to fall. Despite the growing burden on the public exchequer, the government was forced to approve the subsidy to reduce the price of some essential commodities. While the poverty of the people continued to increase to a hazardous extent, there was a serious balance of payment crisis. Due to less domestic savings, there was not enough capital for investment.

There was also a lack of resources to provide educational and health facilities to a large population. In addition, there was a high rate of inflation and the balance of payments deficit was about $ 10 billion. In such a situation, P.V. Narasimha Rao was forced to present the policy of liberalization and privatization to the Rao government. In 1991, the then Finance Minister Dr. Manmohan Singh played an important role in adopting the new economic policy.

Local feedback for globalization:

There are various positive and negative consequences with the process of globalization. This has been done in two contradictory ways - the first opportunity to be developed in the economic field and the second time as the challenge for India's old cultural identity. On the basis of such contradictory assumptions, local reaction for globalization can be analyzed in two ways.

Essay on Impact of Globalization - 2250 Words


Globalization - The most popular event during the decade of 1990 and for the future means that different nations and their economies come under an umbrella.

This is a process where there is no restriction on the movement of capital, investment, wealth, benefits, labor, information, ideas, politics and what not. If economics is the basis of everything, the process of globalization has increased due to the ongoing economic reforms since 1991.

Effects of globalization

Globalization is essentially an economic phenomenon that has strong impact. In order to understand the effect of globalization on Indian economy, society, culture, religion and mindset, it is important for us to know how and when economic reforms have taken place.

IMF (International Monetary Fund) has set a set of rules to fulfill economic reforms. When Chandra Shekhar's government lost to the Congress, the Indian economy was going through a chaotic situation.

The Gulf War of 1991 increased the prices of international oil, which severely affected India's BOP (balance of payments) situation. Exports were low and imports were high (due to high prices of oil and petroleum). India's economic performance was in adversity because industrial production fell to the ground.

Financial losses increased to new heights, which did not earn anything except high rates of inflation. Due to the popular form of government expenditure in the 1980s, supported by heavy borrowing without adequate return, India's internal and external debt touched the sky.

Short-term commercial borrowing from abroad has become the cause of a difficult situation for the government. India actually came on the verge by default. Under this situation, the government borrowed huge amount of conditional loan from the IMF. In this way India IMF has been forced to follow the 'structural improvement'.

The IMF package contains a set of economic policies for the debt-rider and low-performing economy, which is called stabilization measures for short run, and includes:

(i) Monetary policies

  • Positive real interest rates
  • Increase in reserve rate
  • More vigorous open market operations
  • Credit controls

(ii) Realignment of the exchange rate to a near market determined rate.

(iii) Reduction of budgetary deficits

  • Increased revenue mobilization efforts
  • Review of public investment priorities and identification of a core programme of investment.

(iv) Real wage restraint

  • Removal of formal indexation arrangements

The Long Term 'Structural Reforms' prescribed by IMF include

(i) Promotion of private sector (domestic-and foreign)

  • Definitive political commitment
  • Rapid improvement in infrastructure
  • Improvement in regulatory regimes
  • Facilitation of investment approval procedures

(ii) Commercialization of public enterprises-improvement in operational efficiency

  • Privatization programmes

(iii) Financial sectors reforms

  • Movement to market determined rates capital market development, including promotion of stock exchanges

(iv) Liberalization of trade regime

Removal of import and exchange control and progress towards lower and less-dispersed band of tariffs.

(v) Price-flexibility

(vi) Tax-reforms

  • Reduction of distortion effects on resource allocation
  • increased elasticity of tax-system

(vii) Administrative reforms

  • Reduction in size of public service
  • Safety net well targeted programmes of transfers to vulnerable groups.
  • Training, credit and employment programmes for vulnerable group. Impact of Globalization on Indian Economy

Causes to globalization, there has been a large increase in the export sector of the Indian economy. During the year 1993-1996, the export performance improvement improved.

During the period of April-September 2000, the export growth rate touched the figure of 22%, while imports were about 15%. Thus, due to globalization, economic reforms have resulted in improved India's current account standing.

Government expenditure has been reduced but there is no fiscal deficit which is still around 5% of the gross domestic product (GDP). This is due to the high consumption expenditure on the part of the government.

The government is pushing for disinvestment of public sector units. For the employees, the government has started VRS (Voluntary Retirement Scheme). Although the defense expenditure has increased, the government has reduced the subsidy on food, fertilizers and electricity. As a percentage of GDP, the investment in social sector has not increased.

Expenditure on health and education is not enough. Though the efforts of privatization have promoted the private sector, but the private sector's employment generation is low.

The NDA (National Democratic Alliance) government headed by BJP (Bharatiya Janata Party) has initiated the second generation economic reforms, which include reforms in all areas including political institutions, economic machinery, democratic system, judiciary etc.

Supporters of globalization in India have argued that economic integration will improve local efficiency of resources, reduce capital production ratios, and increase productivity of labor, help to develop export areas, and e * port culture, capital The flow will increase and the updated technology

Increasing the degree of competitiveness in the domestic, domestic economy, the reduction in relative prices of industrial and manufactured goods, improving the conditions of trade in agriculture and generally promotes the average growth of the economy in the coming years. To some extent this has proved to be true.

Impact of globalization on poverty and malnutrition

At the World Food Summit, in 1996, it was estimated that around 840 million people worldwide are suffering from malnutrition and the main reason behind this is poverty. Globalization did not raise the status of agricultural workers and shared the crop.

Since most of the Indian population is engaged in agriculture, thus the poor impact of globalization on agriculture has not helped poverty and thus treated malnutrition. Pro. Amartya Sen has stressed the need to create a 'safety net' for the weaker sections of society, so that the globalization process does not paraphrase the pores.

In India, we have found that globalization does not help in reducing the incidence of poverty. This is mainly because the government investment in agriculture has been reduced, with the increase in the value released in PDS (Public Distribution System).

The package never reached for the poor. Although procurement prices of grains have increased by the Agricultural Costs and Pricing Commission, but this mainly helps the rich farmers of Punjab and Haryana. Mediators buying grains at cheaper rates from small farmers also benefitted under this scheme.

Grain issue prices through PDS have become more than market prices, thereby increasing the stock of food available with FCI (Food Corporation of India). Due to the informal methods of food storage, there has been a lot of waste.

Thus, in a country where grain production reached 206 million tonnes in 1999-2000, inadequate demand and inadequate demand due to poverty under poverty and malnutrition. Apart from this, there has been a decrease in pulse and coarse cereals production, thereby providing less nutritious food to the public.

Although the objective of the new Agricultural Policy (2000) is to increase the growth rate of 4% in food grain production through large-scale capital-centric financing, we can understand that globalization has not yet benefited the poor.

Effects of globalization for agriculture

Under the WTO agreement, the product patent has changed the process patent and it has spread to agriculture. With the vast R & D (R & D) facilities, large multinationals (multi-national companies) are encroaching on India's agriculture, which can be devastating for Indian farmers.

The effect of biotechnology can be tremendous as it could split more technology rather than spread between east and west. High yields of plants from foreign companies can help the West to resist pests, which reduces the primary exports of India.

Unless the government funds are closed for research, the result may be result. Apart from this, cheaper food imports from abroad can lead to less demand for Indian food, which can have a bad effect on the side of Indian farmers, if the government reduces subsidy on fertilizer and other raw materials, and then Indian agriculture But this will have a fatal effect.

The failure of the Seattle WTO Conference in December 1999 shows that the West is divided about the question of granting subsidy to the agriculture sector. Although due to poor management and storage facilities, India is wasting bulk materials producing it, but the situation of India can be improved through alternative ways of better marketing and distribution.

If the government initiates in the area of ​​poverty reduction, rural development and agricultural development then the process of globalization will result in greater results.

Influence on politics, religion, culture and Indian psyche

Globalization means more economic inter-dependence of the market and globalization. A new emphasis on international trade has emerged. Commercialization has become the goal of every firm.

Hardly anyone has heard the name of Pepsi or Coca-Cola. The brand names of companies have changed our last piece of ethics from our heart. Humanity's disintegration has become a part of everyday life and parcel.

Although American economists often think of greater transparency with globalization, but the period of economic reform for globalization in India has happened with the era of corruption and decomposition. There is also a link between globalization and communalism.

Our secular politics is in danger from communalism. There is a predecessor agenda to change the constitution. But what is the relationship between globalization and communalism? If economic reforms are not implemented properly then globalization leads to more unemployment.

According to some, Western conspiracy against the development of pre-globalization. This is a capitalist phenomenon and it is called 'neo-imperialism'. Globalization will reach the end of a nation's sovereignty. The Indian political system now appears to be working under the directions given by the White House.

The essence of Indian state and nationalism is being destroyed. Under such a situation, on one hand, some political parties are very troubled about economic reforms without thinking about its consequences, and on the other hand, to calm people's frustration and anger due to unemployment and inequality, they One is playing with emotions by stimulating the religion against the other.

The cult of Hindustan has become prevalent because the people have been misled that the reason behind their poverty and economic decline is a special community. In this way, people can wash with the brain and instead of inquiring on the basis of globalization, their intelligence can be transferred to subversive activities.

In the country of 80% of the population, being Hindu should be told about how to be 'Hindu'. The politics of 'Ram' has spread from India to the United States, because some non-resident Indians (non-

Residential Indian) are sending money from the United States. Some types of inherent interest are always behind such activities. Religion has become politics in this way; Politics has become 'economic reform'. Commercialization has reduced the thinking of people to the horizon.

The purpose of being a 'modern person' is to keep 'cell phone' without knowing about 'Knowledge movement in Europe'. Putting two opposing forces of money making (greed) and someone's religious beliefs (conservative) can only happen when hypocrisy is absent.

Otherwise it can be said that Indians have stopped being aware (in mental state), or they do not think or know about their culture, which says that maximum welfare means welfare for maximum people. India is the land of Buddha and Vedas, is now teaching the world how to kill thousands of people through a nuclear tool.

Thus globalization has not spread the message of peace and tranquility; It taught us to be powerful. India has become a small shark between the big sharks.

Globalization, Information Technology and India's World Diplomacy

India is on the verge of becoming IT (Information Technology). With the initiative to promote IT in the state of Chief Minister Chandrababu Naidu, the name of Hyderabad has been changed to 'Cyberabad'. This is due to globalization that India has made a place for itself in the development of software and its exports.

The spread of IT from the Silicon Valley to the US is only possible due to globalization. Globalization policy involves inhibiting trade barriers to increase free trade and market-economy. Indeed, India's role in solving Y2 bugs and other problems is very high.

The availability of cheap computer-efficient and English-speaking labor has helped countries such as the US, Germany have been able to withstand the shortage of IT-professionals. IT will increase e-commerce (electronic-commerce) and thus support technical information as well as commercialization of the product in the form of real products.

India has become a big market for America and Chinese goods. It is the strategy of every developed country to tap its potential along with the Indian market. On the other hand, India has emerged as a strong country in the world politics and diplomacy. The year 2000 will go down as India has won a diplomatic victory after one.

Following the visit of the era of former US President Bill Clinton in March 2000 and Prime Minister Atal Bihari Vajpayee's visit to America, Russian President Vladimir Putin visited.

In the interval, diplomacy was a high profile activity with Foreign Minister Jaswant Singh, in which to promote the interests of India in the various global frontiers and to move forward in various parts of the world, mainly to cross border terrorism, our There was an emphasis on concern, which led to Kargil conflict, due to the historic Lahore visit of Vajpayee in 1999.


India has repeatedly made it clear that it will not talk to Pakistan unless it was supporting Musharraf and its people with limited terrorism and was in the garment of jehadis or mujahideen. It is only because of 'India's inauguration', that the international community is listening to us.

Globalization has provided India with a platform to reach its audience for political reasons or economic. Progress of economic reforms has influenced World Bank Chief Mr. James Wolfe Son and in the coming years India has promised more debt, if India's performance betters.

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