Day 61 – Q 4.Do you agree with the assertion that India has gained much less as compared to her western counterparts in the process of globalisation? Substantiate your views.
4. Do you agree with the assertion that India has gained much less as compared to her western counterparts in the process of globalisation? Substantiate your views.
क्या आप इस बात से सहमत हैं कि वैश्वीकरण की प्रक्रिया में भारत को अपने पश्चिमी समकक्षों की तुलना में बहुत कम प्राप्त हुआ है? अपने विचारों की पुष्टि करें।
Globalisation is the method of interaction and union among people, corporations and governments universally. It includes the creation of networks and pursuits transforming social, economic and geographical barriers. Globalisation tries to build links in such a way that the events in India can be determined by events happening distances away.
India has gained much less as compared to her western counterparts in the process of globalisation
- Economic sphere
- World leading financial institutions like IMF, World Bank, are dominated by Western nations.
- Competition in agricultural sector form imports has resulted in stagnation and farmer’s suicide.
- Political sphere – After LPG reforms interference of government in economy has decreased. The concept of welfare state has reduced to minimalist state after globalisation.
- Cultural sphere
- Globalisation had led to shrinking of Indian culture. People are influenced by western culture even in day to day activities like dressing style, food habits, music etc
- The ‘McDonaldization of Society’ is a case in point.
- Social sphere – Urbanisation and resulting migration due to globalisation has worsened the social situation in India causing
- Increasing number of nuclear families, high divorce rates, individualism etc
However there is a different opinion too, as per which, India had fair share in the process of globalisation
- Economic sphere
- Increased FDI and FII and higher growth rate after 1991 reform.
- Indian is the highest receiver of remittance.
- More export market and overseas branches of Indian companies.
- Political sphere
- Indian is a prominent country at the UN.
- Due to Globalisation India has the opportunity to take leadership role in regional groupings like BIMSTEC, QUAD, SCO etc
- Social sphere
- Better health and education facility
- Improved social development indicators and women empowerment.
- Cultural sphere – Indian culture has become more popular at the global level. Recognition of International Yoga Day is a case in point.
The phenomenon of globalisation and its effect is too important to be reversed. It would be wise to have policy preparedness to reap the benefit of globalisation.