Saturday, July 20, 2024

Impact of Globalisation on India

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Impact of globalisation on India has been multi dimensional which needs to be discussed in some detail

Globalisation is the process of increasing and intensifying interconnectedness among societies, institutions along financial, commercial, cultural and social domains.

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It refers to the metamorphosis of the Homo Sapien community.

The transformation into a single entity notwithstanding their economic, cultural and social differences.

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Economy

You might be wondering what was the impact on the economy, well this was the impact-

This period was marked by India throwing itself open to the rest of the world through the policies of deregulation, deregistration of industries.

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This has been followed by an aggressive privatisation.

The result is that India’s socialist state led planning faded into oblivion.

Culture and Society

You should notice that culture and society were affected too, how, this is the way-

From the societal perspective, India found itself absorbing and assimilating the positive and negative things of western and other societies.

From a cultural perspective-

India went through distinct changes, while Indian culture and practices particularly the Indic culture and practices were exported to other parts of the world.

Globalisation allowed the dissemination of such practices and changes on a mass scale.

The most important among them was the export of Indic soft power indicators like Yoga and the idea of sustainable development.

One of the key challenges of the globalisation process was to promote the syncretic order as far as the domestic issues of India was concerned.

This means promoting a cosmopolitan way of life.

Security

The invention of internet has expanded the security threat in the form of cyber-attacks.

The cyberspace is considered to the new domain of warfare which largely consigns into irrelevance the use of firearms, the cyber-attack on AIIMS New Delhi by Chinese hackers point to this bane of globalisation.

Hence, the impact of globalisation on India has been multifaceted and multi-pronged.

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