Globalization- Its impact on Indian Economy and Society by Ms. Rani Sharma

As globalization is need of the hour, therefore it is important to get acquainted with the term in detail, it's effect, use and more from pin to plane.

Thereby, the post text in the following presentation will enlighten knowledge about the changes, challenges, advancements, it's advantages and disadvantages of globalization in detail.

1. Globalization The Impact on Indian Society and Economy By- Ms. Rani Sharma Ph.d Scholar Department of management The IIS University, Jaipur 1 5th Rajasthan Science Congress ; October 13-15, 2017; Amity University Rajasthan

2. ABSTRACT Present research attempts to highlight the impact of globalization on the most prominent developing country "India". As globalization is need of hour, therefore it is important to get acquainted with the term in detail, it's effect, use and more from pin to plane. Thereby, the post text in following research presentation, will enlighten knowledge about the changes, challenges, advancements, it's advantages and disadvantages of globalization in detail. 2 5th Rajasthan Science Congress ; October 13-15, 2017; Amity University Rajasthan

3. INTRODUCTION Globalization is a process, which integrate different- S ocieties Economies Tradition and culture on world scale through support of communication and idea exchange. 3 5th Rajasthan Science Congress ; October 13-15, 2017; Amity University Rajasthan

4. HISTORY OF GLOBALIZATION(INDIA) Earliest forms of globalization are the trade links between the Sumerian civilization and the Indus Valley Civilization. In medieval age, Jewish and the Muslim traders started going to various parts of the world to sell various items . It continued to further in Modern age, countries like India, Sri Lanka, Indonesia gained independence. (Establishment of UNO, is major step in this regard) 4 5th Rajasthan Science Congress ; October 13-15, 2017; Amity University Rajasthan

5. POSITIVE IMPACT OF GLOBALISATION ON INDIA Economic growth and capital formation (by capital flow of technology) Raising employment opportunities (poverty alleviation) Foreign Direct Investments H igher standard of living E nhanced and skilled education 5 5th Rajasthan Science Congress ; October 13-15, 2017; Amity University Rajasthan

6. Cheap labour Collaborating (Indian companies shine outwards) Technological advancement (smooth production with more profit) More economic activities Better quality goods at much reduced price Reducing gender inequality in India (equal opportunities) Continues…. 6 5th Rajasthan Science Congress ; October 13-15, 2017; Amity University Rajasthan

7. NEGATIVE IMPACT ON INDIA Indian and small retailer's faded away W age differentiation for unskilled labors. Poor condition of laborers (they have to accept the reduced wages due to infinite supply of labors) H arder for local producers to survive . Human beings been turned into machines 7 5th Rajasthan Science Congress ; October 13-15, 2017; Amity University Rajasthan

8. India faces many challenges like-   Complex procedures and trade entry barriers . Not clear understanding of GST . GNI per capita remains poor, due to high population growth rate. Inadequate and poor infrastructure . Disallowing foreign investment in many areas. Required improvement education and health care. 8 5th Rajasthan Science Congress ; October 13-15, 2017; Amity University Rajasthan

9. RESEARCHED DATA AND FINDING Foreign Direct Investment, as compared to 0.1% of GDP in 1991, has increased to 2% at present scenario. India's average annual growth rate have doubled in 80's to 5.9 %. GDP growth rate 9% in 2009-2010 to 9.4% in 2013-14. Under Modi government, GDP growth has hit 3-year low of 5.7%. (Demonetization and GST is most obvious reason to adversely affect this) If all goes in positive way, by 2025, Indian economy in size seems to be almost 60 % of US economy . 9 5th Rajasthan Science Congress ; October 13-15, 2017; Amity University Rajasthan

10. In terms of purchasing power parity, ranked 4th and will overtake Japan within next 10 years. In terms of export, it has bounced up by 22.5%. Compared to manufacturing sectors, industrial sectors have  faster growth in last 10 years (due to greater use of I.T. in trade) which led to growth at 8% annual growth rate in service sector, whereas 6% growth in manufacturing sector. Continues…. 10 5th Rajasthan Science Congress ; October 13-15, 2017; Amity University Rajasthan

11. CONCLUSION After the analysis, I concluded that Globalization had both desirable and undesirable consequences for India. G lobalization resulted in growth of Indian economy, which has improved lives of many people. It also increased employment opportunities. However on other side, it widened gap between rich and poor resulting in more oppression for those at the bottom of social ladder.  It may be said, globalization is inevitable in the twenty first century despite it's disadvantages considering the advances in information technology which led to more integration between nations. As such, it has created both winners and loser in India. 11 5th Rajasthan Science Congress ; October 13-15, 2017; Amity University Rajasthan

12. SUGGESTION I feel that, opening the door for globalization with neutral domestic policies and regulatory constraints will amount to increase in per capita income and best way to grab advanced technologies for technological advancement. 12 5th Rajasthan Science Congress ; October 13-15, 2017; Amity University Rajasthan

13. Thank you 13 5th Rajasthan Science Congress ; October 13-15, 2017; Amity University Rajasthan