Globalisation

S I N O I T A S I L A R GLOB O F G N I K R O W NOT ! R O O P E TH

Globalisation …What is it??? • It is the rapid integration of countries through rapid trade and investment. • It also refers to increased possibilities of action between people in situations where the location seems immaterial. 04/09/09

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Is globalization inevitable??? • In today’s competitive world, no country can afford to exist in isolation. • All nations are dependent on each other for their development. • This makes it all the more important to check if globalization is truly 04/09/09

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How India became GLOBAL • The entire infrastructure from 19471991 was government owned. • The burden of state ownership almost bankrupted the country. • In 1991, with India running out of hard currency, India opened it’s economy to the world. 04/09/09

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GLOBALISATION 1.0 • The first era of globalization reaped gains for the creamy layer. • The rate of returns suddenly increased due to the entry of many foreign players. • Where earlier you had to go to US to ensure better returns, you could now make money in India as well. • This made the Indian affluent more patriotic (read selfish) 04/09/09

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THE FLIPSIDE… • While the upper class was reaping the benefits of globalization ,there was another section of population which found no relief. • This was incidentally the majority of the population who were below the poverty-line. 04/09/09

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The new Buzz-Word • Even today there exists a chunk of population that is alienated to the term “globalization”. • This chunk consists of the poor living in the villages. • These also consist the poor living in the slums of different metropolitans and the so-called ‘mini metropolitans’ of India.

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• For instance, a few years ago the Indian government in partnership with several foreign org. started a campaign in villages to empower them with education. • About 100 crores were assigned to set up schools in villages. • But an analysis after an year showed that only a meagre amount 04/09/09

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Limited Globalisation • It’s not just the awareness that is lacking in the poor. • The effect of globalization has still not touched the lives of the poor who are still striving to make both ends meet. • These are the people who are even today starving for the most basic needs of life. 04/09/09

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A survey on Indians on the success of globalization

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• Advocates of Globlisation have to say that the economic growth of the country has increased the standards of living in India. • Some also say that the BPO industry has provided opportunities to the middle class. • Definitely, the middle class has shifted to a better way of life but

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REALITY CHECK… • Thanks to globalization, today we have fancy and high-end super-specialty hospitals in the country. • But what has been done in the name of healthcare facilities for the underprivileged??? • All major metros have seen the entry of global schools at the turn of the century. • There are still about 3 lac villages in the 04/09/09

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Partial Globalisation • Globalisation is not just making profits through trading with MNC’s . • It also includes the inculcating of global standards for the improvement of the society. • Child labour is still being freely practiced in many industries that we all are aware of (bangle, fireworks industry). 04/09/09

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• The agricultural sector is no better either at the hands of globalization. • How can one be so oblivious of the state of agriculture in India which is compelling farmers to commit suicide. • Even the government is not ready to help this sector which is bereft of any help from globalization. 04/09/09

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• The agrarian policies that can help agriculture to look up in region with fertile land are craving for the governments support.

THE BIG QUESTION… • Has globalization taken such a toll that the govt. needs to be reminded that a major part of the revenue still 04/09/09

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• We cannot blame other nations for this lack of concern. They are here just to make profits. • The foreign organizations would invest only in lucrative areas. • Therefore, it becomes the responsibility of the government to market the other areas also in the 04/09/09

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IT HAPPENS ONLY IN INDIA… • In 2002, the Indian government, in partnership with several foreign organizations assigned Rs 100Cr for empowerment of 50,000 Indian villages. • A survey done in 2003, showed that just 15 crores reached the grassroot level in the villages. • This shows that globalization is not working for the poor but for the pockets 04/09/09

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The Problem • The funds coming into India through FDI’s is going into the already rich areas. • This is resulting in having a greater divide between the rich and the poor. • The government needs to intervene in order to check the proper circulation of funds in all parts of the 04/09/09

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What Needs To Be Done… • It’s high time the government took some high strides for the upliftment of the poor while accentuating it’s economic development. • The government can implement national development policies while taking care of it’s international commitments and agreements. 04/09/09

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ROLE-PLAY • The middle-class who is benefitting from globalization also has a role to play. • By pressing upon the government for the implementation of poverty reduction policies in sync with economic growth policies. • By these measures, they can be pivotal in helping the poor to mollify 04/09/09

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• These facts and figures highlight how the hyped globalization has an effect only on the affluent and already cashrich classes. • In a country like India, where a major part of the population goes to bed hungry daily, globalization has a very important part to play. • But sadly, the potential of globalization has been left untapped, and it’s effect 04/09/09

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BOTTOM LINE

A nation like India cannot aim to prosper through globalization when a major chunk of it’s population is struggling for nothing more than a simple livelihood.

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THANK YOU ! Prepared by: • • • • • • 04/09/09

Vipul Vineet Kanishk Yogesh Kalim Saahil 24