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Globalization

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Padmashree Dr.D.Y.Patil University Department of Business Management Subject- International Business Globalisation Submitted to Mrs. Surya Bhamre Submitted by Sreelaxmi Iyer (MBA-BT- 09012) Date: 6th January 2011 1 Index Sr. No. 1. 2. 3. 3.1 3.2 3.3 3.4 3.5 Topic What Is Globalization? Globalization due to Policies and Technology Globalization in India India is Global Globalisation and Poverty GDP Growth rate Export and Import Where does Indian stand in terms of Global Integration? Paddin
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  Padmashree Dr.D.Y.Patil University Department of BusinessManagement Subject- International Business Globalisation Submitted to Mrs. Surya Bhamre Submitted by Sreelaxmi Iyer (MBA-BT- 09012) Date : 6 th January 2011 1  IndexSr. No.TopicPage No. 1.What Is Globalization?32.Globalization due toPolicies and Technology43.3.13.23.33.43.5Globalization in IndiaIndia is GlobalGlobalisation and PovertyGDP Growth rateExport and ImportWhere does Indian stand interms of GlobalIntegration?5-9667784.Padding up: Indianentrepreneurs helping Indiagoing Global105.Conclusion11 What Is Globalization? Globalization is a process of interaction and integration among the people, companies, andgovernments of different nations, a process driven by international trade and investment and 2  aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-beingin societies around the world.Stephen Gill: defines globalisation as the reduction of transaction cost of trans-border movements of capital and goods thus of factors of production and goods.Guy Brainbant: says that the process of globalisation not only includes opening up of worldtrade, development of advanced means of communication, internationalisation of financialmarkets, growing importance of MNC's, population migrations and more generally increasedmobility of persons, goods, capital, data and ideas but also infections, diseases and pollution.Globalization is not new. For thousands of years, people and, later, corporations have been buying from and selling to each other in lands at great distances, such as through the famedSilk Road across Central Asia that connected China and Europe during the Middle Ages.Likewise, for centuries, people and corporations have invested in enterprises in other countries.In fact, many of the features of the current wave of globalization are similar to those prevailing before the outbreak of the First World War in 1914.The frontiers of the state with increased reliance on the market economy and renewed faith inthe private capital and resources, a process of structural adjustment spurred by the studies andinfluences of the World Bank and other International organisations have started in many of thedeveloping countries. Also Globalisation has brought in new opportunities to developingcountries. Greater access to developed country markets and technology transfer hold out promise improved productivity and higher living standard. But globalisation has also thrown upnew challenges like growing inequality across and within nations, volatility in financial marketand environmental deteriorations. Another negative aspect of globalisation is that a greatmajority of developing countries remain removed from the process. Till the nineties the processof globalisation of the Indian economy was constrained by the barriers to trade and investmentliberalisation of trade, investment and financial flows initiated in the nineties has progressivelylowered the barriers to competition and hastened the pace of globalisation Globalization due to Policies and Technology Policy and technological developments of the past few decades have spurred increases in cross- border trade, investment, and migration so large that many observers believe the world hasentered a qualitatively new phase in its economic development. 3  Since 1950, for example, the volume of world trade has increased by 20 times, and from just1997 to 1999 flows of foreign investment nearly doubled, from $468 billion to $827 billion.Distinguishing this current wave of globalization from earlier ones, author Thomas Friedmanhas said that today globalization is “farther, faster, cheaper, and deeper.”This current wave of globalization has been driven by policies that have opened economiesdomestically and internationally. In the years since the Second World War, and especiallyduring the past two decades, many governments have adopted free-market economic systems,vastly increasing their own productive potential and creating myriad new opportunities for international trade and investment. Governments also have negotiated dramatic reductions in barriers to commerce and have established international agreements to promote trade in goods,services, and investment. Taking advantage of new opportunities in foreign markets,corporations have built foreign factories and established production and marketingarrangements with foreign partners. A defining feature of globalization, therefore, is aninternational, industrial and financial business structure.Technology has been the other principal driver of globalization. Advances in informationtechnology, in particular, have dramatically transformed economic life. Informationtechnologies have given all sorts of individual economic actors—consumers, investors, businesses—valuable new tools for identifying and pursuing economic opportunities, includingfaster and more informed analysis of economic trends around the world, easy transfers of assets, and collaboration with far-flung partners. Globalization in India Globalization in India has allowed companies to increase their base of operations, expandtheir workforce with minimal investments, and provide new services to a broad range of consumers. 4
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