Answer» - The process of globalisation in the Indian context received an impetus in 1991.
- In India, New Economic Policy was declared in 1991 by Finance Minister Dr. Manmohan Singh.
- Globalisation is basically an economic process. It proposes to integrate the national economy with the global economy.
- There is free flow not only of capital, goods, and technology but also of skilled human resources and ideas across the globe.
- It proposes to remove barriers in the free movement of human beings and broaden their mental horizons.
- Due to globalisation, the impact of the western culture and decline of the traditional values as well as changes in the social institutions like family, marriage, etc.
- We are beset with the positive and negative impacts of globalisation.
- Examples: International companies such as Pepsi, Coca-Cola, McDonald’s.
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