|
|
This is only a preview of the paper
Click here to register and get the full text.
Existing members click here to login
|
|
|
Globalisation has been variously defined, there is a general agreement that it is a process increased international trade flows, finance investment, technology and labour. ... The impacts of Globalistaion vary from country to country and different governments adopt different strategies in order to encourage or discourage globalisation where necessary. ... For India, effective global integration has required the Central Government to implement structural reforms at home, including the development of India into a market based economy through domestic reforms and trade liberalisation, assisted by organisations such as the World Bank and IMF. India is an emerging economy with 26% of its population struggling below the international poverty line of a dollar/day and its GDP/capita is a mere US$2206. Through integration into the world economy, India seeks to improve its economic development and the welfare of its people.
The process of Globalisation is associated with increased divergence in growth trends, enabling Advanced and Newly Industrialised economies to accord higher growth through increased trade and efficiency whilst subjecting many low developed countries to a “vicious cycle of poverty”. Fortunately, the impact of Globalisation on India’s economic growth and development has been anything but negative. The trade reforms of 1991 exposed India to more trends occurring throughout the global economy and since then the nation’s economy has grown annually at an annual rate averaging a healthy 6%. ... Furthermore strong growth in a conducive reform environment have enabled India reach important socio-economic and development milestones including
· A reduction of 10 percentage points in poverty incidence, from 36% in 1993 to 26% in 1999,
· A deceleration in population growth to 2%; and
· an increase in literacy of 13% during the 1990’s (to 65% in 2001)
Globalization is usually associated with increasing inequality in that a larger proportion of wages, earnings and disposable income are concentrated into the hands of fewer individuals. This trend however has not been observed in India. Despite recording record growth rates and a substantial increase in per capita income from US$882 to US$2206 over the past two decades, India maintained a constant value of inequality in an era of strengthening globalization.
Approximate Word count = 1726
Approximate Pages = 6.9
(250 words per page double spaced)
|
|
|
|
|
|