Impact of Globalization on Indian Economy, Politics and Society, its Transformation and Future Aspects

Abstract

Globalization exists in world from the ancient time. However, its pattern changes as time passes. Today, globalization is one of the important phenomena in both national and international politics as it affects our daily life significantly due to easy and rapid flow of information across the border of a nation. The establishment of several international organizations after World War II and their increasing importance in international geopolitics facilitates the process of neo liberal globalization which further accelerates after the disintegration of communist USSR followed by the emergence of capitalist USA as sole superpower. This paper analyses the positive and negative impact of the modern form of globalization on Indian economy based on the data collected from various sources. Thereafter, the role of states, international geopolitics and modern day social structure are been analyzed in order to recommend some steps in order to eliminate the demerits under current scenario especially based on Indian economy and society.