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What is Globalization? It is a dynamic process of interaction and integration between organizations, companies, people and also governments worldwide. This is one of the most complex and multifaceted phenomena, which has come to be in existence in the world. The mode of its operation at many times figures the color of capitalist expansion, which is shadowed and reinforced in the kind of integration it has in the local and national economy into a more global outreach. The massive expansion of economy has come up with the increasing advancement in technology, innovation in technology and the means of transportation. The rewarding thing about the influence of globalization is seen in the way it has changed the phase of culture identity, the progress in international trade, the development of ideas remarkably.
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Globalization is primarily seen in the context of economic expansion from national setups to international platform. This process of economic integration and interaction brings changes in the other segments of life namely, culture and society. Despite the changes it brings, it too has certain conflicts. In the history of globalization, the element of diplomacy plays a vital role, and has a larger play in it. In the context of India, globalization has brought tremendous change in all the aspects of life. When there is more mobility of resources globally, there is a huge refinement in the society. This triggers the initiatives to the structural and education development of the nation.
Globalization has made the world a village. That’s the common expression used in the context of globalization. Just like in the village, the dwellers know what is happening in the other end of the village, likewise, globalization has brought the world closer and it makes the possibility of seeking information easy. More so, goods and services can be easily made available in any part of the world in lesser duration of time.
Despite, the developments brought by globalization, as mentioned above, many do critique it to have adverse effect in the long run:
1. Countries build up companies in other countries, and this brings a loose of opportunities in the country of their own. This would also create unemployment in the country.
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2. When the multinational companies setup their business in the other less developing nations, they bring cultural changes, which can be detrimental to the existing culture. People will lose the touch of their own culture in the mingling.
Globalization too, is associated with aggressive competition in the business industry. This process does bring new windows of opportunities to the different countries, and leads to economic improvement to the lesser ones.
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