The term globalization has come in to existence almost a decade and a half ago due to which the world has become a single unit and shrunk in to a global village. In general the term Globalization refers to the trend of countries joining together economically, through education, society and politics, and viewing themselves not only through their national identity but also as part of the world as a whole. We are moving towards a world in which barriers to cross-border trade and investment are declining; distance is shrinking because of advancement in transportation and telecommunication technology as a result of which national economies are merging in to an interdependent, integrated global economic system. The process by which this transformation is occurring is referred as globalization.
The Globalization is said to bring people of all the nations closer together, especially through a common medium like the economy or the internet. It means that we are able to compete with the other countries in order to show that we are a truly big country and we are not lagging behind other countries hence we have to increase the human recourse quality to prepare ourselves for Globalization.
The In this age of Information Technology globalization is inevitable. The present world is a blend of developed, developing and under developed nations; henceforth a give and take approach is essential for the smooth functioning of the world. As man is a social animal so we can’t stay aloof similarly as a nation we are part of the globe. Every country wants to grow but growth in isolation is not only difficult in fact it is impossible .
The Globalization lends a competitive environment which motivates us to perform better, in order to prove our standard and be recognized at the Global front. Hence Globalization is a win-win situation for everyone. In today’s scenario Globalization is must for an economy to grow. In terms of economy, it is is particularly essential for India to achieve its pre-defined goals and fulfil the job requirements by 2025 because it gives ample exposure to the young generation to use its potential in a better way while staying in their own country.
The Globalization has created the concept of outsourcing, work associated with software development, customer support, marketing, accounting and insurance is outsourced to developing countries like India. So the company which has outsourced the work enjoys the benefit of lower costs because the wages in developing countries are much lowers then that of the developed countries. As a consequence of this, the workforce in developing countries get employment and along with it developing countries get access to the latest technology.
The basic purpose of Globalization is to bring world economies closer to one another. It also encourages healthy competition for mutual benefits and thus promotes trade. This economic cooperation results in social and cultural understanding and peaceful coexistence.
The Today’s world is a world In which international institutions such as the World Trade Organization and gathering of leaders from the world’s most powerful economies have repeatedly called for even lower barriers to cross border trade and investment. This is the world where the symbols of material and popular culture are increasingly global: from Coca-Cola and Starbucks to Sony Play Stations, Facebook, MTV Shows, Disney Films and Apple iPhone and iPads. It is also a world in which vigorous groups protest against globalization, which they blame for the list of ills, from unemployment in developed nations to environmental degradation and Americanization of local culture .
The Globalization has also made a vital contribution in the field of education as there are no national boundaries. One can go to any country to pursue higher education and thereby the standard of education has also improved. It is a matter of pride for Indians that many foreigners come to India for their education and this is all because of Globalization.
The Globalization does have certain ills, one of them being that it has adversely affected the culture and heritage of a place. It has also increased the gap between rich and poor by creating a competition between foreign and domestic companies. Globalization has also caused brain drain. But we must not forget that we should establish our economy on our own shoulders otherwise India would not be able to revive its economy through FDI or Globalization.
The Once Globalization has set in it cannot be undone so we should focus on gaining from the boons that Globalization has created. India should utilize globalization as a platform to strengthen its presence on the world stage. It can leverage the advantages of more developed countries- such as advanced innovation and technologies, in order to boost its own economy. A phenomenon such as globalization is not inherently good or bad, it’s a country’s utilization of a phenomenon that decides its use for a country.
