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Key features of globalisation Rapid expansion of international trade Internationalisation of products and services by large firms Growing importance

nce of multinational corporations Increase in capital transfers across national borders Globalisation of technology Shifts in production from country to country Increased freedom and capacity and firms to undertake economic transactions across national boundaries Fusing of national markets Economic integration Global economic interdependence

advantages: Discuss the advantages and disadvantages of globalization to small scale industries in India. Increased free trade between nations Increased liquidity of capital allowing investors in developed nations to invest in developing nations Corporations have greater flexibility to operate across borders Global mass media ties the world together Increased flow of communications allows vital information to be shared between individuals and corporations around the world Greater ease and speed of transportation for goods and people Reduction of cultural barriers increases the global village effect Spread of democratic ideals to developed nations Greater interdependence of nation-states Reduction of likelihood of war between developed nations Increases in environmental protection in developed nations disadvantages Increased flow of skilled and non-skilled jobs from developed to developing nations as corporations seek out the cheapest labor

Increased likelihood of economic disruptions in one nation effecting all nations Corporate influence of nation-states far exceeds that of civil society organizations and average individuals Threat that control of world media by a handful of corporations will limit cultural expression Greater chance of reactions for globalization being violent in an attempt to preserve cultural heritage Greater risk of diseases being transported unintentionally between nations Spread of a materialistic lifestyle and attitude that sees consumption as the path to prosperity International bodies like the World Trade Organization infringe on national and individual sovereignty Increase in the chances of civil war within developing countries and open war between developing countries as they vie for resources Decreases in environmental integrity as polluting corporations take advantage of weak regulatory rules in developing countries

Good sides

Globalization lets countries do what they can do best. If, for example, you buy cheap steel from another country you dont have to make your own steel. You can focus on computers or other things. Globalization gives you a larger market. You can sell more goods and make more money. You can create more jobs.

Consumers also profit from globalization. Products become cheaper and you can get new goods more quickly.

Benefits of globalization
"We have moved from a world where the big eat the small to a world where the fast eat the slow", as observed by Klaus Schwab of the Davos World Economic Forum. All economic analysts must agree that the living standards of people have considerably improved through the market growth. With the development in technology and their introduction in the global markets, there is not only a steady increase in the demand for commodities but has also led to greater utilization. Investment sector is witnessing high infusions by more and more people connected to the world's trade happenings with the help of computers. As per statistics, everyday more than $1.5 trillion is now swapped in the world's currency markets and around one-fifth of products and services are generated per year are bought and sold. Buyers of products and services in all nations comprise one huge group who gain from world trade for reasons encompassing opportunity charge, comparative benefit, economical to purchase than to produce, trade's guidelines, stable business and alterations in consumption and production. Compared to others, consumers are likely to profit less from globalization. Another factor which is often considered as a positive outcome of globalization is the lower inflation. This is because the market rivalry stops the businesses from increasing prices unless guaranteed by steady productivity. Technological advancement and productivity expansion are the other benefits of globalization because since 1970s growing international rivalry has triggered the industries to improvise increasingly.

Some other benefits of globalization as per statistics:

Commerce as a percentage of gross world product has increased in 1986 from 15% to nearly 27% in recent years. The stock of foreign direct investment resources has increased rapidly as a percentage of gross world product in the past twenty years. For the purpose of commerce and pleasure, more and more people are crossing national borders. Globally, on average nations in 1950 witnessed just one overseas visitor for every 100 citizens. By the mid-1980s it increased to six and ever since the number has doubled to 12. Worldwide telephone traffic has tripled since 1991. The number of mobile subscribers has elevated from almost zero to 1.8 billion indicating around 30% of the world population. Internet users will quickly touch 1 billion.

Bad sides

Globalization causes unemployment in industrialized countries because firms move their factories to places where they can get cheaper workers. Globalization may lead to more environmental problems. A company may want to build factories in other countries because environmental laws are not as strict as they are at home. Poor countries in the Third World may have to cut down more trees so that they can sell wood to richer countries. Globalization can lead to financial problems . In the 1970s and 80s countries like Mexico, Thailand, Indonesia or Brazil got a lot of money from investors who hoped they could build up new businesses there. These new companies often didnt work, so they had to close down and investors pulled out their money.

Some of the poorest countries in the world, especially in Africa, may get even poorer. Their population is not as educated as in developed countries and they dont have the new technology that we do. Human, animal and plant diseases can spread more quickly through globalization. Characteristics of globalization 1. Borderless Globalization is about an increasingly borderless world and its societal consequences. The causes of globalization are technological, economic and ideological. The societal consequences are very much in terms of the diminishing capacity of governance by governments and in relation to that the rebound (the counter effects both in terms of attitudes and of institutions) against aspects of globalization; against the dominance of the market (economization), against Americanization and in reaction to the diminishment of quality of life. 2. Information Technology changes Increase in information flows and greater transporter data flow between geographically remote locations. Arguably this is a technological change with the advent of fiber optic communications, satellites, and increased availability of wireless telephone and Internet. 3. Mobility The characteristic of globalization given more mobility and less transport costs means per definition more competition and more dynamism. "However, that competition does not mean per se increased trade flows. Therefore economists defining globalization in their simplified approach as increased trade flows have to conclude per definition that there is not much globalization." 4. International cooperation The increasing of the multinational corporations, regional and global organizations leads to the members of the international community expanding from a single nation to the transnational corporations, international organizations, and international nongovernmental organizations. In these three groups of actors, except for the individual international military treaty organization, only the country and country alliance have the capability of "plate movement". 5. Talents mobility and integration Globalization has increased the growth of the multinational corporations, and also brought the talent mobility and integration. More and more personnel dispatched by the corporations to the branches in other countries, and they learn and share the experience or do the project with the local employees. This kind of talents mobility and cooperation can increase the business performance. 6. Cultural diversity Because of the globalization and new technology, it has been found that cultural diversity reflects on the food, music, art, life style, customs and race. The western culture has mixed with the eastern culture. For instance, McDonalds Corporation has expanded to be world wide, and you can see the logo of M everywhere. Also, the Hollywood movies are very popular in Asia. Globalization has not only promoted cultural blending, but also driven a lot of business opportunities.

Role of mncs:
Multinational corporations are important factors in the processes of globalization. National and local governments often compete against one another to attract MNC facilities, with the expectation of increased tax revenue, employment, and economic activity. To compete, political powers push towards greater autonomy for corporations, or both. MNCs play an important role in developing the economies of developing countries like investing in these countries provide market to the MNC but provide employment, choice of multi goods etc.

On the other hand, economist Jagdish Bhagwati has argued that in countries with comparatively low labor costs and weak environmental and social protection, multinationals actually 'race to the top' rather than race to the bottom. While multinationals will certainly see a low tax burden or low labor costs as an element of comparative advantage, Bhagwati disputes the existence of evidence suggesting that MNCs deliberately avail themselves of lax environmental regulation or poor labor standards. As Bhagwati has pointed out, MNC profits are tied to operational efficiency, which includes a high degree of standardisation. Thus, MNCs are likely to adapt production processes in many of their operations to conform to the standards of the most rigorous jurisdiction in which they operate (this tends to be either the USA, Japan, or the EU). As for labor costs, while MNCs clearly pay workers in developing countries far below levels in countries where labor productivity is high (and accordingly, will adopt more labor-intensive production processes), they also tend to pay a premium over local labor rates of 10 to 100 percent. Finally, depending on the nature of the MNC, investment in any country reflects a desire for a medium- to long-term return, as establishing plant, training workers, etc., can be costly. Once established in a jurisdiction, therefore, MNCs are potentially vulnerable to arbitrary government intervention such as expropriation, sudden contract renegotiation, the arbitrary withdrawal or compulsory purchase of licenses, etc. Thus, both the negotiating power of MNCs and the 'race to the bottom' critique may be overstated, while understating the benefits (besides tax revenue) of MNCs becoming established in a jurisdiction.[ The number of MNCs have increased greatly from 7000 in 1970 to over 78,000 in 2006. What many people aren't aware of is that MNCs account for over half of the industrial output of the world. The names of some of the largest MNCs include Wal-mart, General Motors, Exxon-Mobil, Mitsubishi, and Siemens. However, according to data from 2005, only one of the 200 largest MNCs are based in a developing nation which happens to share a border with the United States, Mexico. The North holds a monopoly when it comes to large corporations including MNCs and this power difference continues to create a rift between the North and South.

Transnational corporations
A transnational corporation (TNC) differs from a traditional MNC in that it does not identify itself with one national home. While traditional MNCs are national companies with foreign subsidiaries, TNCs spread out their operations in many countries sustaining high levels of local responsiveness. An example of a TNC is Nestl who employ senior executives from many countries and try to make decisions from a global perspective rather than from one centralized headquarters.

Criticism of multinationals
Anti-corporate advocates criticize multinational corporations for entering countries that have low human rights or environmental standards. They claim that multinationals give rise to huge merged conglomerations that reduce competition and free enterprise, raise capital in host countries but export the profits, exploit countries for their natural resources, limit workers' wages, erode traditional cultures, and challenge national sovereignty.

role of internet in the media globalization

The internet has done a revolution to the impact of globalization in the media, as mentioned in site: Media and Internet. The contribution of internet in the role of media has changed over the past few years and has increased distinctively as mentioned in site: Media and Internet. In the society the digital media is intensely transforming the consumer behavior and traditional media business models. Media also uses internet in their interest to publicize and distribute what they want to highlight. Asia as a reverence contributing to 56%of the population of the world has 42% of the worlds internet users, as mention in the site (Asia).

In addition to that, in Asia almost 10% of the Asians are on facebook. The number of facebook users in Asia is 93,584,580 and the internet users in Asia are 828,930,856. As mention in the site (Asia). In political (as news aspect) field internet serves as a medium to connect the media and the viewers. A lot of people are unable to go through the newspapers everyday because of either very busy schedule or ignorance or because of travelling. However, different ages of people in todays generation are connected with internet. Therefore people read about the elections about the various political issues through the internet. Even the media updates all its news at every instant on the internet and this help viewers in getting the most exclusive updates that are done through the day before getting in tomorrows newspaper. The role of internet has a lot to contribute to the economical aspect or impact of the media. With the share market and the online trading and banking facilities people have started shifting from the conventional ways of doing things to this modern easier and hustle-free method. The term globalization in economics is about the different aspects of cross-border transactions, free international capital flows, portfolio investments, diverse and rapid blending of technology ,as mentioned in site: Media and Internet. The theory of globalization states that it enhances prosperity in terms of the economic development of the country and leads to proficient allocation of resources, which in return leads to more employment higher standards of living, more outputs and lower prices, as mentioned in site: Globalization of Media. The internet facility provided by the media channels help the users (viewers) to be able to update themselves from wherever they are. The news provided through the internet is mostly updated at every instance and is more precise and easier to find than other sources of the media, as mentioned in site : Media and Internet. There are options of commenting on the news updates and the best part is that one can indulge themselves in a discussion and hence connect the social and economic aspects of the issues. Of the total of 4600 news and information sites the top 7 sites, they collect about 80% of the online traffic, as mention in the site (Media Use Statistics ). People could easily handle transactions of money, billing payments and the ability to view, share and buy more than a product at the same time with knowledge so they wont get hustled. Using the internet to buy and to use the banks card, this actions helps in running the money around in the same city which helps different part of the city get an advantages from the economical side. The role of internet in the cultural and traditional aspect is quite prominent. Globalization has an immense effect on the cultures of the different countries, as mentioned in site : The Role of Media in the Society. It has always had a very deep impact on the cultural identity. The free flow of information, speedy progress in the field of technology, transportation and communication has converted this world into a global village. The reductions in costs and better facilities and variety of choices have changed the tastes of individual and societies leading to a stronger integration. The use of internet through the media provides an inter mix and exchange of ideas and thoughts between countries. The media provide the news about not just within the country but also around the globe. Along with the general news about ones nation, media also highlights the cultural and traditional aspects of the country such as, representing other cultures birthdays, food and clothes. With the help of globalization and internet being a source of it there is an exchange of these cultural and traditional aspects leading to an merger of culture. The extent of this join up differs from country to country or place to place depending on the amount of exposure people have to the internet or the media. For example, Falkland Islands has the highest internet access rate of 100% as its population is equivalent to the number of internet users in the country which means that all the citizens of this country use internet, As mention in the site

(Asia).This cultural diffusion opens up the mindset of the people and lets them know the world in a much matured way.

role of television in the media globalization

The television acts as an eye opener to the viewers. The role of television in the media globalization has made a remarkable impact on the society. There are both sides to it negative as well as positive. However,the positive effect of the television are being touched by the audience more than its negative points. In todays world almost every house has an access to television and over the years the accessibility has increased immensely. United Kingdom tops the list with an average television rate of 28 hours per person per week, as mention in the site (Media Use Statistics ) When the press media had not come into picture, people used to communicate by writing letters and sending them through direct mails .The beginning of press media came as an information revolution. This press media has become a source for promoting, projecting and supporting the process of providing information such as, news and cultural and traditional country views. Therefore globalization has led to the timely processing and distribution of information, as mention in the book (Jan, 2009). Therefore international print media can be read and understood on the domestic grounds. The role of the press media is diverse and it focuses on all the issues concerning out daily lives and well being. It plays role in educating the people on political parties, international happenings, entertainment glamorous celebrity gossip and sport events .After the press media there was the discovery of radio and television. This lead to a different kind of revolution as press media restricted one to just read but radio and television appealed to another sense as it had both visual and audio sense. A recent poll states that about 59% of Americas population obtains the world news on television out of which 37% is through cable and 22%through broadcast. As mention in the site (Media Use Statistics ) According to researcher George Gerbner the most popular television programs are no longer the ones made for the national consumption but are the ones made for international distribution, as mentions in site: (Jeffrey K. Lyons). With further research he came to the conclusion that this was in order to increase the marketability of international television program distribution. (Media and Internet, 2009) A political economist and media historian named Robert Mc Chesney criticizes the multinational corporations for using the media as a platform to serve their own interests only. These companies create content and own the publishing companies and hence use them to distribute their own product. Another opinion which a lot of researchers have is regarding the impact of globalization on media with respect to local culture. They feel that the World Trade organization is threatening the local culture by encouraging foreign investment in local media. Firstly, the younger generations watch television regularly and there are points in the year when they watch it more than the average. This is because of the seasonal shows which they watch for a certain number of weeks and then may not watch for next couple of days after one season of the show is over, as mentions in site: (Jeffrey K. Lyons). These programs on television depict the various cultures all around the world. The media through television can reach to the mass people. The television serves to a larger number of people than the internet at one time. In terms of political aspects the television has a lot to add to. The viewers can be made aware of the political issues sensitive topics concerning the nation. The television can provide its viewers with important facts and information concerning the democracy and the political system which can help us

make better decisions as mentions in site: (Skinner, Alex & Hafz, Kai). At the same time it gives us the overall picture of what is happening in the rest of the world. A lot can be understood and adopted through movies as well. Movies depict the various issues of the society and politics and it greatly influences the viewers and a lot of the time leaves them thinking about the social and political issues and acts as an eye-opener. The economical aspect is highlighted by the television through advertisements and the news channels giving updates on the share market, brokers and stocks. The advertisement in a way makes us consumers and helps to make us aware of all the suitable options available for us in the market. This is not just restricted to advertisements of clothing or grocery but at the same time about pension plans and banks. In fact with television one neednt always go to the stock markets or keep waiting for the newspaper for the stock conditions but can keep oneself updated with the television news channels. Just by sitting at home one can get the entire news of the world by TV, this is possible only because of globalization. Globalization in media has also made us aware about the economical and political conditions of a particular country but also provides us with entertainment of all sorts. The Cultural and traditional issues are focused by the television through movies, serials, reality shows and advertisements.

role of radio in the media globalization

Radio is one of the easiest and cheapest media source. It is easily available in most part of the country. The biggest advantage of the radio as a means of media globalization is that it can be understood by even an illiterate person and can cater to a larger number of people. Moreover it has a greater impact on the rural as they are able to connect to the radio easily. Therefore the importance of radio in the society is indispensable. Television and radio catered to illiterate people as well. Moreover the advertising industry has used this as a medium to expose global products daily to the audience. The radio was one of the oldest means of spreading information amongst the people. Be it a cricket match or songs or elections peoples ears used to be stuck to the radio to keep themselves aware of things around them. Most people in todays generation are not regular listeners to the radio unless they listen to it for music on their way to work. The use of radio amongst them is now restricted only to music and that has also reduced remarkably because of technological advancements like I pods and music phones. In the political and economic aspects the role of radio is slow and steady. However in the rural areas it has a great impact. The rural people are greatly influenced by the news and information shared by the media through radio. In fact this helps them to understand the political system and the advertisements make them aware about the various products. Radio also highlights the social issues and helps eradicate and revolt against those issues in the best possible way. Radio in todays world is a platform for advertisement. In fact it generates a lot of income and adds to the economy of the media. It provides the listeners with enumerable options available in the market but at the same time highlights the ill issues of the societies and methods to eradicate them.

Radio also provides a platform for the cultural and traditional exchange. For example, the radio channels provide music of different parts of the world and hence this leads to one nation understanding the music of the other. Music reflects the culture and the tradition of the area to a large extent.

role of Mobile in the media globalization

Mobile nowadays is the most common device used around the world. This device was created in the early 80s to help people communicate in different countries using a small rechargeable device. Developing countries in particular are getting a huge advantage of this wireless connection between different gender, age and nationality or people, as mentioned at site: Jeffrey K. Lyons. The mobile phone has its advantages and disadvantages but as it is popular between all people then this shows that its advantages touched down the disadvantages. Using mobile phones by people to communicate is a way such as TV or radio that people use to hear the person from the other end of the world, as mentioned at site: The Globalist. Moreover, this connection between people helps in saving time in writing a letter and sending it. This time saver would help in getting people multi-task in any work place. On the other hand, for average income people , the idea of using mobile phone is expensive and in most poor and unable financially countries this could turn to a disaster. Politically as news info, people will communicate using the wireless device in any place is just faster than using the internet or even watching TV. People would be updated on for an event or a news report or forecast info before even going on the television or even on the internet, as mentioned at site: Robert Avila. People could pass urgent information using the mobile phones in seconds without any trouble happening. Talking about the economical point of view of the mobile phone will be somehow controversy because the advantages and disadvantages of it depends on the country itself. However, mobile phone users and the increase of them would help the economy in a better picture , for example , being and using mobile phones will cost money so for the country , keeping the money inside the country is better than taking it outside, to keep the economic flow running. For poor countries , using mobile phones will affect the economic dramatically because of the all the money that is going outside the country with no investments from the inside.

Role of the World Bank in Globalization

Low-Income Countries Debt relief would be given to the low income countries and the process should get going vigorously. It is here that the World Bank has a vital role to play by working with governments and ensure strong governance, effective judicial systems, and a robust financial system. All these would help fight corruption. If these initiatives are not taken, attracting foreign and domestic investment would be difficult and thus globalization shall fall back upon us. Middle-Income Countries Statistically, 80% of the world's poor live in middle-income countries. These are the countries which require utmost help for a strong financial stability. For that, the structural and social reforms should be in place for the next stage of development. The mission of tackling global poverty is the main agenda and the only important tool to achieve overall development.

World Bank is focusing on

Secure long-term funding Give advisory services Create the right policy and institutional framework Address weaknesses in the social, structural, and sectoral policies

Future of globalization and World Bank's role

In next 25 years, the population of the entire world would go up by 2 billion to a figure of 8 billion people. The 98% of the surge in population would be in the developing countries. In 2008, more than 47% of the global population lived in urban areas. By 2020, 4.1 billion, or 55% would be living in urban areas. The World Bank is now aiming at maintaining parity in education and is also aiming at achieving the gender equality goals. We all must work towards building up a commitment towards global poverty reduction. After all, the benefits of globalization should be harnessed for delivering prosperity to the nations.

Globalization and market changes in India

Globalization has been a major factor behind the improvement of the market changes in India. Prior to the liberalization of the market in the country, India suffered a huge market set back and it led to problems in the balance of payment accounts. The first wake of globalization was felt in the country in the 1990s when the government initiated the open market and economic liberalization plan. This led to huge improvement in the market scenario of the country which significantly changed from the state controlled market to the consumer market. Due to the emergence of the consumer market, there was an increase in demand and supply. The positive change in the market pattern led to the improvement in the standard of living in the country. Today, India is one of the largest growing economies in the world and ranks as the 4th largest in terms of the purchasing power parity (PPP). In terms of the market exchange, it ranks as the 12th largest economy in the world. The country has also enjoyed a significant growth in the Gross Domestic Product (GDP) due to the improvement in the market and the increase in exports. The annual rate of economic growth ranges between 6 and 7%. The growth rate of the country was around 6.7 % in the financial year 2008-09. In the recent budget, the government has taken more steps to ensure high economic growth up to around 9%. Renowned financial organizations like the World Bank has also expected much optimism that the growth rate of India may even surpass China. It has projected that the growth rate will be around 8% in the year 2010.

Improvement of various sectors

Globalization of markets has also cast a favorable effect on various sectors in India. According to recent surveys, the industrial sector in the country has significantly grown at a rate of around 6.8%. This rate is expected to be more in the years to come. Due to the development in technologies and innovation, the exports in the industrial sector has also grown to a great extent and today the country ranks as a great market in the Asia-Pacific region. The industrial sector has a share of around 29% of the total GDP. The agriculture sector has also done significantly well over the few years and contributes around 17%. The manufacturing segment has also experienced a phenomenal growth from 8.98% to 12%. The same is the

case with the communication and storage sectors which have enjoyed a growth of 16.64%. Globalization has also given a boost to the equity market of India which is now the third largest in South East Asia after China and Hong Kong.

Globalization and increase in foreign market

Due to globalization, India has turned into a vast consumer market with high demands. This has led to the growth of foreign investment in the country. More and more foreign companies and global giants have started entering the Indian market to cater to the high customer base and high demand. Today, the amount of foreign institutional investments (FIIs) has gone up to around US$ 10 billion. This is a very big factor behind the growth of the stock market and the overall market conditions. In case of the foreign direct investments (FDI), there has a large increase of around 85.1% over a period of few years. Recent surveys have shown that the amount of foreign direct investments had grown from US$ 25.1 billion in 2007 to around US$ 46.5 billion in 2008.

globalization and culture in india

People around the globe are more connected to each other today than ever before in the history of mankind. Information and money flow more quickly than ever. Goods and services produced in one part of the world are increasingly available in all parts of the world. International travel is more frequent. International communication is commonplace. We live in an intensely interdependent world in which all the earth's peoples with their immense differences of culture and historical experience are compressed together in instant communication. We face today a world of almost infinite promise which is also a world of terminal danger. This phenomenon has been titled 'Globalization.' 'The Era of Globalization' is fast becoming the preferred term for describing the current times. Just as the Depression, the Cold War Era, the Space Age, and the Roaring 20's are used to describe particular periods of history; Globalization describes the political, economic, and cultural atmosphere of today. While some people think of Globalization as primarily a synonym for global business, it is much more than that. The same forces that allow businesses to operate as if national borders did not exist also allow social activists, labour organizers, journalists, academics, international terrorists and many others to work on a global stage. British Imperialism or Western Colonialism did not die after the end of World War II when the West gave up its colonies in Africa, Asia, Latin America, West Indies and the East Indies. Gradually it changed itself into a more subtle form which is proving to be more harmful to all non-Western cultures both in the short run and the long run. Indian culture which in effect means Hindu culture, Hindu religion, Hindu society, Hindu civilization, Hindu way of life are under the lethal threat of the ruthless forces of Globalization today. What went by the name of Colonialism in classical history textbooks produced in the days of British Raj has been replaced today by the synonym of Globalization. The unbridled expansion of western culture has continued at an accelerated rate along with the denigration and decline of Hindu culture, civilization, religion, art, literature and customs. This new Colonialism has taken on several new faces or rather put on new masks. It cleverly masquerades itself through labels and slogans like democracy, humanitarian rights, gender equality, internationalism, free trade and humanitarianism. In the name of modernization and Globalization it pretends to be uplifting peoples whom it is really exploiting. This is not very different in either kind or intent from old Western Colonialism ' British Imperialism in the Indian context ' which vaunted itself as the benign bringer of Civilization and culture to the uncivilized world. It was given the glorious title of 'White Man's Burden'. In the Colonial Era in India from 1700-1875, British colonial expansion worked through military, economic, and religious methods. Military force was the primary and initial method. This was little more than organized banditry, stealing the gold, jewels and other

treasures of India. Economic exploitation went hand in hand with the military conquest. Later it stooped so low in its methods as to get involved even with the drug and narcotic trades. Later economic exploitation developed into a fine art resulting in the exercise of total control over the natural resources and controlling the economy of India for long term gains. Religion provided the needed rationale for this cruel plunder. All native Hindus were dismissed as heathens or pagans ' despicable creatures who don't have to be treated like human beings till they take their fateful decision to embrace Christianity. According to the missionaries who came to India to play second fiddle to the British Imperial rulers, Christianity was the only true religion. Jesus Christ was the only true God. All other religions like Hinduism, Jainism, Buddhism, Sikhism, and many other traditional faiths and religions in India had to be eliminated to save the souls of India and Indians. All facets and all aspects of Hindu religion and Hindu society were dismissed as idolatry and superstition, in order to advance the noble Christian pursuit of salvation for the barbarous heathens of India. Along with Christian religion came the rest of British or Western culture, thought and customs and the gradual end of traditional ways of life. Thus our traditional religions and cultures were gradually subverted or eliminated. The new Indian converts to Christianity were encouraged not only to give up their religion but their culture, which often had religious or spiritual implications as well. A good Indian Christian convert would dress like an Englishman and emulate English manners in all things. Thus in India the Hindus converted by the British to Christianity were encouraged to think, behave and live like Englishmen. This is what I call Macaulayism. This term derives from Thomas Babington Macaulay (1800 - 1859) who was a Member of the Governor General's Council in Calcutta in the 1830s. He introduced the English system of education to produce Brown Sahibs who were to be English in taste and temperament. This expectation was more than fulfilled even by 1900 and after our independence thanks to our Anglo-Saxon Prime Minister Nehru this process has been completed with consummate ruthlessness. After the outward display and establishment of the forces of Colonialism, came an intellectual form that was less overt but more dangerous and explosively insidious. The British rulers attempted to colonize our minds by eliminating all our traditional schools and education systems through a progressive system of Western education. This they did in a country like India where Christianity failed to gain many converts. This gave British Colonialism in India the aura of a civilizing influence. Educated Indians having higher education in the colleges opened by the alien rulers in the latter half of the 19th century were made to believe that it was not colonial exploitation that the Englishmen were bringing to India but progressive Western values ' training our people in science, art and technology and teaching them better and more equitable forms of government. Native Indian people were helped to learn the skills of veneer of English civilization by becoming modern and rational. Though all forms of Colonial Empire in the geographical sense came to an end after the II World War, yet the same forms of colonial exploitation continue even today in all parts of Asia, Africa and Latin America under the banner of that all-embracing umbrella called Globalization. Western Civilization in spite of its tall claims to support diversity is only promoting a worldwide monoculture ' the same basic values, institutions and points of view for everyone ' which it calls 'Globalization.' The brutal and stark truth is that western culture, with its declared pursuit of markets and commodities eliminates all true culture, which is based on quality and not quantity. It creates a culture of filthy lucre and lust for money all the way that submerges any true culture of refinement or spirituality ' a dismal culture in which everything can be bought and sold, possessed or capitalized on. All our capitalists and businessmen in India today are gloating and bloating about the ever rising tide of consumerism and consumer culture brought about by the ruthless march of Globalization. This in my view constitutes the greatest assault on Hindu culture and Hindu society by the draconian dragon of gargantuan Globalization. Macaulayism of British India has become in letter and spirit the Globalization of today. Pound Sterling has been replaced by the US Dollar. To the people of India in general

and educated Indians in particular, Globalization seems to be rather mild and well meaning, more like an imperceptible breeze, which blows in silently, fills up the psychological atmosphere, creates a mental mood, inspires an intellectual attitude and finally settles down as a cultural climate ' pervasive, protein and ubiquitous. It is not out to use a specified section of Indian society as a vehicle of its virulence. It is not like Islamism which wants to destroy the body of a culture in one fell sweep. It is not subtle like Christianity which subverts a society surreptitiously. Yet at the same time, it is a creeping toxaemia which corrodes the soul of our Hindu culture and corrupts our timehonoured social systems in slow stages. And its target is every section of Indian society. What has been its impact on culture in India? Every educated Indian seems to believe that nothing in Hindu India, past or present, is to be approved unless recognized and recommended by an appropriate authority in the West. There is an all-pervading presence of a positive, if not worshipful, attitude towards everything in western society and culture, past as well as present in the name of progress, reason and science. Nothing from the West is to be rejected unless it has first been weighed and found wanting by a Western evaluation. Swamy Vivekananda foresaw the dangers of Globalization as early as in 1893 when he spoke at the Parliament of World Religions in Chicago. To quote his soul-stirring words: 'Shall India die? Then, from the world all spirituality will be extinct, all sweet-souled sympathy for religion will be extinct, all ideality will be extinct ; and in its place will reign the duality of lust and luxury as the male and female deities, with money as its priest, fraud, force, and competition its ceremonies, and human soul its sacrifice. Such a thing can never be'.

Responding to Social Impacts of Globalisation

Globalisation has an uneven impact, regionally and socially. This has been seen very clearly in the UK in recent years, with relatively steady economic growth offset by sustained income and wealth inequality. The current government has shied away from some progressive tax options for fear of provoking the emigration of wealthy individuals. Liberal Democrat tax policy is outlined in Policy Papers 75 Fairer, Simpler, Greener and Policy Paper 81 Reducing the Burden. The key strands include increasing green taxation and removing tax breaks which primarily help the well-off in order to cut income tax for low and middle earners. For business, we propose to simplify corporation tax by removing complex reliefs and cutting the overall rate of tax; and remove unnecessary regulations by moving to a General Anti-Avoidance Rule.

It is important that all people as well as governments should take responsibility for their personal and collective future. However, poorer or peripheral communities are often remote not only from good employment opportunities, but also from markets, social networks and information. The aim of national, regional and local governments should be to facilitate individuals and communities to find their own ways to regenerate through participation. Liberal Democrat policies to promote local regeneration are set out in Policy Paper 77, Green and Prosperous Communities. No matter how much education and training is available, some people will be short of suitable skills, at any given time, in a fast-changing global economy. The government currently proposes to enable people to enhance their employability through a programme linked to individual learning accounts called Train to Gain. It remains to be seen how much choice and flexibility this will offer to individual learners.

There is also a need to think more widely about the role of the welfare state in a globalised economy. It has often been assumed that high welfare spending can create disincentives for individuals and lead to economic stagnation. However, evidence from smaller, yet more globalised economies like the Netherlands suggests that it may also provide a buffer, supporting individuals to retrain and develop different skills, instead of falling back into unskilled jobs. Globalisation has also increased international economic migration, both to and from the UK. Truly free markets, as envisaged by Adam Smith, would include free movement of labour, as in the EU. Liberal Democrats celebrate diversity and the greater international outlook that it brings to society, but we recognise that large-scale immigration can have major impacts on local communities, including additional pressures on social services and housing, and rapid changes in the cultural environment. There is also a set of concerns around effects on the labour market and added competition for employment opportunities, particularly for low-skilled individuals. It therefore remains important for national governments to manage the social impact of immigration.

LIBERALISATION contains two components. -Allow the private sector to run those activities which were restricted earlier only to public sector. -Relaxation of rules and regulations which were restricted to the growth of private sector. PEOCESSES: -Private sector has been allowed to produce all the goods except alcohol, cigarettes, hazardous chemicals, industrial explosives, electronic aerospace and drugs and pharmaceuticals. -Industries reserved for public sector has been reduced from 17 to 3. -Private sector can also enter in to core industries like iron and steel, electricity, air transport, shipbuilding, heavy machinery and some defence goods. The private sector has been freed from many regulations such as (a) licensing (b) permission to import raw materials (c) regulation on price and distribution and (d) restriction on investment by large business companies. GLOBALISATION: Integrating the Indian economy with the world economy. -Many producers from outside the country can sell their goods and services in India. -India can also sell its goods and services to other countries. -Globalisation facilitates those who have capital to establish enterprises in India, produce goods for sale within the country or export them. -Entrepreneurs from India also can go and invest in other countries. -Not only the movement of capital but also the movement of people takes place.

-Exchange of capital, technology and experience take place between the various countries of the world. -Govt has removed restrictions on import of goods, reduced taxes on imported goods and encouraged investors from abroad to invest in India. LIBERALISATION AND GLOBALISATION IN INDIA- AN EVALUATION: Visible changes(a) Better services in the communication sector, such as telephone facilities, availability of electronic goods such as TV etc at low prices. Emergence of food processing companies for various types of food and drinks.


Invisible Changes (a) Indias share in trade of goods and services in the world has increased, though a bit slow. Investments from other countries (Foreign Direct Investment) to produce goods and services in India has increased. The price rise has slowly declined from 12% in 1990-91 to 5% in late 1990s. The new policies have generated employment though not sufficient to meet the increasing requirement of the Country. Industrial growth is not up to the expected level.


(c) (d)