Globalization

History

Globalization is an age old phenomenon. However, its origin is still appoint of argument
among historians. Some historians argue about its existence since the rise of trade links
between Sumer and the Indus Valley Civilization in the third millennium B.C.[14] Critics of this
idea point out that it rests upon an overly-broad definition of globalization.

Some historians trace it back to the times when an early form of globalization existed in the
trade links between the Roman Empire, the Parthian empire, and the Han Dynasty. This link
inspired the development of famous Silk Route which connected these empires.

The Islamic Golden Age and the Mongol empire greatly facilitated the growth of globalization.
Globalization became a global phenomenon when the British East India Company established
its prowess in India. The 19th century witnessed the advent of globalization in something
approaching its modern form. The final death bell for this phase of globalization came during the
Great Depression in the late 1920s and early 1930s.

Example

The earliest example of globalization depends on how far in History are you ready to go. The
British East India Company, the world’s first MNC made globalization a business phenomenon.
Other examples of globalization include American MNCs opening up their centers in India.
Microsoft’s office in Hyderabad was their first outside of North America. Other examples include
Coke, Pepsi , Nike, Adidas, Levis setting up their factories in various parts of the world, like the
Nike factory at Sialkot in Pakistan, Tirupur in Tamil Nadu.

Effects

The effects of Globalization can be mainly classified in the following categories:

1. Industrial
2. Financial
3. Economical
4. Political
5. Informational
6. Technical
7. Language
8. Competition
9. Ecological
10. Cultural
11. Social
12. Legal

Future
With the advent of globalization in India, the Indian economy has opened up to foreign players
in various sectors viz, Banking, Retail, insurance, IT etc. As a result of this humongous job
opportunities have opened up in India with more and more people getting employed. Now, a
stable government free from the red influence will be able to make better decisions. The
government can now open up various sectors of the economy for foreign players which provide
more job opportunities to the people like us. Moreover, the foreign money that flows into India
can be used for the development of the infrastructure of the country.