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  • Essay / Globalization and its positive and negative sides for India

    This essay will focus on globalization and its impact on India. Globalization is the new reality. It is not a rigid force, but a set of evolving consequences. Some of them are good, some of them are bad, and some of them are unintentional. Simply put, globalization refers to the process by which societies and economies are integrated through cross-border flows of ideas, communications, technologies, capital, people, finance, goods, services and information. Globalization is generally considered a modern concept, but it is hardly new to India. India played a distinct role in the world economy in the early Christian era. A form of globalization in India existed during the Indus Valley Civilization. Trade links between Sumer and the Indus Valley Civilization are one of the examples that show the existence of globalization in the third millennium BC. India was the world's largest economy during the historical period, accounting for approximately 32.9% of global GDP, but the arrival of the British had isolated India from global markets. India has been intentionally isolated from the global economy, which has ruined the fundamental economic structure of the country. After independence, India was left with a disrupted economy and scarce financial resources, this is when globalization was reintroduced to India in 1991 through the New Economic Policy. Globalization was one of the branches of the new economic policy. Liberalization and privatization were also part of the new economic policy. This introduction had a huge impact on the social, cultural, political, communal and monetary life of India. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay International integration has several aspects such as social, political and/or economic, but the most common of all is the financial aspect. The economic aspect refers to the development and integration of the economy of one country with that of another country, which will automatically lead to the integration of the social and cultural aspects of the respective countries. The socio-cultural impact of globalization is both negative and positive. As we know, Indian cuisine is considered to be one of the most popular cuisines across the world. Historically, Indian spices were one of the most sought after trade products. But after independence and implementation of economic policy, western foods like Chinese, pizza, hamburgers, etc. became popular. have become very popular in our country and young people are very fascinated by this type of food. Indian cuisine has become world famous but the youth of our country is moving away from its roots. If we look at clothing trends, we see a drastic change in the fashion industry. As we know Indian traditional clothing for women are sarees, kurtis, cholis and ghaghra and for men it is kurta, pajama and dhoti but after globalization western clothing such such as jeans, t-shirts, skirts, etc. are more preferred by the people of our country. country. Indian performing arts include multiple varieties of religious, folk, cultural and classical forms and are popular across the world, but hip-hop and western dance forms are loved by the people of our country. The increasing migration rate and financial independence have led to the.