GROUP NO.

Ruann Dcruz Riddhi Dedhia Samata Mundra Dipali Sawant Kshama Shah Preksha Shetty Mansi Nagrecha Neelam Subedar

66 67 85 96 98 104 112 115

INTRODUCTION
Globalization dominate the world since the nineties of the last century with the end of the cold war

influences of the World Bank and other International organizations have started in many of the developing countries
Globalization has brought in new opportunities to developing countries which has improved productivity and higher living standard globalization has also thrown up new challenges investment and financial flows has progressively lowered the barriers to competition and hastened the pace of globalization Definition Guy Brainbant: The process of globalization not only includes opening up of world trade, development of advanced means of communication, internationalization of financial markets, growing importance of MNC's, population migrations and more generally increased mobility of persons, goods, capital, data and ideas but also infections, diseases and pollution.

ADVANTAGES
Trade in Goods and Services. Free movement of capitals offers access to the foreign investments. Globalization enhances the flow of capital, permitting the investors to invest on the untapped resources of the developing countries. Globalization stresses on increasing mutual dependence among all the nation-states across the world. Globalization enhances free international trades among countries across the world. Economic Globalization ushers in the concept of Open Economy. Globalization reduces cultural blockages and differences among nations. The total output levels of a country increase when productions become competition-oriented. Globalization stresses on increasing mutual dependence among all the nation-states across the world.

DISADVANTAGES
Growth in chances of monetary commotion in one country effecting all other countries. Corporate control of nation-states is greater than that of civil society associations. Globalization might lead to greater risks of violent behavior from people at the receiving end in an effort to conserve cultural inheritance. Globalization elevates the inflow of skilled and non-skilled employment opportunities from the developed economies to third world in search of cheap workforce. The privatization of world media and its authority in the hands of a few restricts the artistic and ethnic expression. Restriction less international travel and influx of foreign visitors generate greater chances of spread of diseases carried accidentally between countries. Anti-globalists predict that the globalization is responsible for altering people's mindset, outlook and lifestyle and promote materialistic way of living. Greater probability of civil war within the third world nations and open conflict between them as they compete for resources.

IMPACT OF GLOBALIZATION ON WORLD ECONOMY

Major increases in world wide trade and exchanges There has been remarkable growth in trade and exchanges but also in currencies Affects the production of goods and services Affects investment in Physical and Human capital Leads to growth in Foreign Direct Investment (FDI) Leads to technological innovation Growth of trade in services

EFFECTS OF GLOBALIZATION

Industrial Financial Economic Political Informational

Contd..
Language Ecological Cultural Technical Religious

A HELPING HAND TO REDUCE POVERTY

Globalisation in the form of increased integration though trade and investment is an important reason which has reduced poverty and global inequality over recent decades
poverty remains one of the most serious international challenges as people still live in extreme poverty But proportion of the world population living in poverty has been steadily declining now

IMPACT OF GLOBALISATION ON EDUCATION

Introduction The first is economic: rising payoffs to higher education in a global, science based, knowledge intensive economy make university training more of a necessity to get good jobs. The second part is socio-political: demographics (the changing family) and democratic ideals increase pressure on universities to provide access to groups that traditionally have not attended university.

Contd..

Globalized Markets and the Globalization of Skills

The Globalization of Skills and Increased Income and Educational Inequality

Globalization and the Increased Payoff to Womens Education

STEPS TAKEN BY INDIA TOWARDS GLOBALIZATION

Devaluation of the currency
Disinvestment Dismantling of The Industrial Licensing Regime Allowing Foreign Direct Investment. Allowing Private participation Abolition of MRTP Act The removal of quantitative restrictions on imports Reduction of Customs tariff Financial sector reforms

IMPACT OF GLOBALIZATION ON INDIAN ECONOMY

India opened up the economy in the early nineties following a major crisis that led by a foreign exchange crunch Measures was initiated as a part of the liberalization and globalization strategy Over the years there was a steady liberalization of the current account transaction and more sectors opened up Globalization has intensified interdependence and competition between economies in the world market It had a favorable impact on the overall growth rate of the economy

Contd.
Service sector is the lifeline for the social economic growth of a country. The real reason for the growth of the service sector is due to the increase in urbanization, privatization and more demand for intermediate and final consumer services. In advanced economies the growth in the primary and secondary sectors are directly dependent on the growth of services like banking, insurance, trade, commerce, entertainment, etc. Understanding the current status of globalisation is necessary for setting course for future. For all nations to reap the full benefits of globalisation it is essential to create a level playing field

IMPACT ON GDP

IMPACT ON EXPORTS

IMPACT ON IMPORTS

CONCLUSION
Globalisation is increasing the integration of national markets and the interdependence of countries world wide for a wide range of goods, services, and commodities. The intent of globalization is efficiency improvement and market optimization taking advantage of the opportunities of the global environment. There are a number of favorable factors for globalization of Indian Business like the growing Human Resource, Growing Domestic Market and Growing Foreign Market. If the Indian forms can muster latest technology to obtain latest technology in the world, to raise cheap finance and procure the best material, they will be on a good position at the global pedestal.