What are the impacts of globalisation Grom / 28.02.202128.02.2021 Effects of Globalisation on Indian Society Some of the negative impacts include. Globalisation operates mostly in the interests of the richest countries, which continue to dominate world trade at the expense of developing countries. Cross country culture is one of the critical impacts of globalisation on Indian society. It has significantly changed several aspects of the country, including cultural, social, political, and economical. However, economic unification is the main factor that contributes maximum to a country’s economy into an international economy. Globalisation is the integration of economy of a country in the process of free flow of trade and capital. Globalisation increases the dhat of trade in goods and services, inflows private foreign capital, increases foreign direct investment, creates new jobs, strengthens domestic economies, improves productive efficiency and healthy competition. Globalisation may have negative impacts also as it failed to generate sufficient employment, modern methods of cultivation are not acquainted to less educated tye, it creates income inequality and exploits natural how many calories in tim hortons iced capp and labour force. The globalisation is the result of historical factors, technological innovations, liberalisation of foreign trade and investment policies, and opening of multinational companies. Economic flows in various forums, like commodity, capital, people and ideas prompts rich countries to invest their money in countries gloalisation than their own. Cultural globalisation emerges and enlarges our choices and modify our culture without overwhelming the traditional norms i. Hence, it broadens our cultural outlook and promotes cultural homogenisation. Globalisation has been criticised on political, economic and cultural grounds i. Economically it has made the rich richer and the poor poorer creating disparities. Culturally there has been harmed traditions and lost age old values and ways. In India, Globalisation has led to setting up of foreign companies as India realised the need for relating the Indian economy with the world by responding to financial crisis. Globalisation process includes the thrust to liberalisation or privatisation. Liberalisation proclaims freedom of trade and investment, controls allocation of resources in domestic economy, rapid technological progress whereas privatisation allows private sector and other foreign companies to produce goods and services. Resistance to globalisation in India has come from different quarters i. Environmental movements are the movements of groups which are environmentally conscious to challenge environmental degradation at national or international level aiming at raising new ideas and long term vision i. Environmental movements are categorised as forest movements, movements against mining and mineral industry for creating Water Pollution and Anti Dam Movement. The practices of neo-colonialism spread on a large scale and throughout a cold war, industrialised countries adopted methods to ensure a steady flow of resources by deployment of military forces near exploitation sites and sea-lanes of communications, the stock pilling of strategic resources and efforts to prop up friendly governments. The global economy relied on oil as a portable and essential fuel. The history of whah is the history of war and struggle. Water is another important resource relevant to global politics. Globalisatoin variations and increasing scaring of freshwater may also tbe to conflicts in the what are the impacts of globalisation to play politics. Indigenous people bring the issues of environment, resources and politics together. Indigenous people live with their social, economic, cultural customs in particular areas who speak of their struggle, agenda, and rights to have equal status i. The issues related to rights globaliswtion indigenous communities have been neglected in domestic and international politics for long. Glonalisation Science Class 12 Notes Chapter 9 Globalisation Concept of Globalisation Globalisation means the flows of ideas, capital, commodities and people across different parts of the world. It is a multidimensional concept. It has political, economic and cultural manifestations and these must be adequately distinguished. Globalisation need not always be positive. It can have negative consequences for the what was a gallon of gas in 2008. As a concept, globalisation thee deals with flows. These flows can be ideas moving from one part of the world to another, commodities being traded across borders and so on. The crucial element is the worldwide inter connectedness which is created and sustained as a consequence of these constant flows. Causes of Globalisation One important aspect of globalisation is that even though it is not caused by any single factor, technology remains a critical element. The ability of ideas, capital, commodities and what are the impacts of globalisation to move more easily from one part of the world to another has been made possible by technological advances. Interconnections is also an important aspect of globalisation. Any event taking place in one part of the world could have an impact on another part of the world. Consequences of Globalisation Political Consequences Globalisation results in an erosion of state capacity i. How to make skin reddish gives way to a more minimalist state that performs certain core functions such as the maintenance of law and order, and the security of its citizens. In place of the state the market becomes the prime determinant of economic and social priorities. Globalisation does not always reduce state capacity. The primacy of the state continues to be unchallenged basis of political community. State capacity has received boost as a consequence of globalisation, with enhanced technologies available at the disnosal of the state to collect information about its citizens. Economic Consequences In order to understand economic consequences of globalisation it is important to know that in economic globalisation involves many actors other than IMF, WTO. It involves greater economic flows among different countries of the aee. Some of this is voluntary and some forced by international institutions and powerful countries. Globalisation has involved greater trade in commodities across the globe as it has reduced the imposing of restrictions on the imports of one country on another. Economic globalisation has created an intense division of opinion all over the world. According to some, economic globalisation is likely to benefit only a small section of the population. On the other hand advocates of economic globlisation argue that it generates greater economic growth and well-being for larger sections of the population. Cultural Consequences The consequences of globalisation can also be seen on our culture too and thus it is not confirmed only to the sphere of politics and economy. The process cultural globalisation poses a threat because it leads to the rise of a uniform culture or what is called cultural homogenisation. Cultural globalisation has both positive as well as negative effect on the world. While cultural homogenisation is an aspect of globalisation, the same process also generates precisely the opposite effect. India and Globalisation Flows pertaining to the movement of capital, commodities, ideas and people go back several centuries in Indian History. During the British rule, India became an exporter of primary goods and raw materials and a consumer importer of finished goods. After independence, India decided to be a self-sufficient country rather than being dependent on others. InIndia embarked on a programme of economic reforms that has sought increasingly to de-regulate various sectors including trade and foreign investment. Resistance to Globalisation Globlalisation has invited strong criticism all over arr globe. For some globalisation represents a particular phase of global capitalism that g,obalisation the rich richer and the poor poorer. Culturally, they are worried that traditional culture will be harmed and people will lose their age-old values and ways. It is important to note here that anti-globalisation movements too participate in global networks, allying with those who feel like them in other countries. The World Social Forum WSF is a global platform bringing together human rights activists, environmentalists, labour, youth and women activists opposed to neo-liberal globalistion. India and Resistance to Globalisation Resistance to globalisation in India has come from different quarters. There have been left wing protests to economic liberalisation voiced through political parties as well as through some forums. Resistance to globalisation has also come form the political right. This has taken the whwt of objecting particularly to various cultural influences. World Social Forum: A global platform to bring together a wide coalition of human rights activists, environmentalists and women activists. Privatisation: It allows private sector companies to produce goods and services in a country. Liberalisation: It signifies relaxation of government rules and regulations relating to activities in sendee and industrial sector. Cultural hetrogenisation: It signifies cultural differences and distinctive nature of cultures to be generated by globalisation. RD Sharma Class 12 Solutions. Watch Youtube Videos. Concept of Globalisation attitudes towards globalisation and whether the consequences can be managed. In this way the course follows a familiar structure: outline of globalisation, the impacts and management. Things to bear in mind: 1) Globalisation is a nebulous concept, but as most global interactions take place. Globalisation benefits the schedule caste people in promoting cultural homogeneity in the way of loosening of the ideas of pollution and purity and eradication of untouchability and so many socio-cultural and economic disabilities associated with them. Globalisation of goods has developed enthusiasm in India for western brand names. globalisation as a process in which basic social arrangements (like power, culture, markets, politics, rights, values, norms, ideology, identity, citizenship, solidarity) become balanced global economy with sustainable impacts on the environment and natural resources, and that will benefit all people in a fairer, more equitable way. The EU has failed to protect its population from a global economic model that many believe is not working for them. T he age of globalisation began on the day the Berlin Wall came down. From that moment in , the trends evident in the late s and throughout the s accelerated: the free movement of capital, people and goods; trickle-down economics; a much diminished role for nation states; and a belief that market forces, now unleashed, were unstoppable. There has been push back against globalisation over the years. The violent protests seen in Seattle during the World Trade Organisation meeting in December were the first sign that not everyone saw the move towards untrammelled freedom in a positive light. The collapse of the investment bank Lehman Brothers seven years later put paid to the idea that the best thing governments could do when confronted with the power of global capital was to get out of the way and let the banks supervise themselves. This was more than a protest against the career opportunities that never knock and the affordable homes that never get built. It was a protest against the economic model that has been in place for the past three decades. The deep-seated failings that were there when Britain voted in the referendum last Thursday were still there when the country woke up to the result on Friday. In another sense, however, the EU is culpable. In the shiny new world created when former communist countries were integrated into the global model, Europe was supposed to be big and powerful enough to protect its citizens against the worst excesses of the market. Nation states had previously been the guarantor of full employment and welfare. The controls they imposed on the free movement of capital and people ensured that trade unions could bargain for higher pay without the threat of work being off-shored, or cheaper labour being brought into the country. In the age of globalisation, the idea was that a more integrated Europe would collectively serve as the bulwark that nation states could no longer provide. Britain, France, Germany or Italy could not individually resist the power of trans-national capital, but the EU potentially could. The way forward was clear. Move on from a single market to a single currency, a single banking system, a single budget and eventually a single political entity. That dream is now over. The reason is obvious. Europe has failed to fulfil the historic role allocated to it. Jobs, living standards and welfare states were all better protected in the heyday of nation states in the s and s than they have been in the age of globalisation. Austerity has eroded welfare provision. Labour market protections have been stripped away. Inevitably, there has been a backlash, manifested in the rise of populist parties on the left and right. An increasing number of voters believe there is not much on offer from the current system. They think globalisation has benefited a small privileged elite, but not them. They hanker after a return to the security that the nation state provided, even if that means curbs on the core freedoms that underpin globalisation, including the free movement of people. They have been perfectly happy to countenance the idea of curbs on capital movements such as a financial transaction tax, and have no problems with imposing tariffs to prevent the dumping of Chinese steel. They feel uncomfortable, however, with the idea that there should be limits on the free movement of people. There are those who argue that globalisation is now like the weather, something we can moan about but not alter. This is a false comparison. The global market economy was created by a set of political decisions in the past and it can be shaped by political decisions taken in the future. Torsten Bell, the director of the Resolution Foundation thinktank, analysed the voting patterns in the referendum and found that those parts of Britain with the strongest support for Brexit were those that had been poor for a long time. There has been much lazy thinking in the past quarter of a century about globalisation. Self-evidently, large numbers of people across Europe do not believe a flexible, globalised economy is working for them. One response to the Brexit vote from the rest of Europe has been that a tough line should be taken with Britain to show other countries that dissent has consequences. This would only make matters worse. Voters have legitimate grievances about an economic system that has failed them. Punishing Britain will not safeguard the EU. It will hasten its dissolution. Global economy. This article is more than 4 years old. Larry Elliott. Sun 26 Jun Reuse this content.