Globalization, initiated in India in 1991 through the New Economic Policy, unifies the world into a global society. It brings economic growth, technology, and improved living standards, yet raises concerns about cultural erosion, and social stability.
What are the positive and negative influences of Globalization?
Positive impact:
- 1. Job creation: The New Economic Policy in India since 1991 has led to significant job opportunities, particularly in rural areas. Previously, employment options were limited to seasonal agricultural activities. However, globalization and privatization have stimulated the Indian economy, resulting in the establishment of new businesses and increased employment opportunities. Multinational corporations entering the Indian market have also contributed to job creation, benefiting both skilled and unskilled individuals.
- Improved income and living standards: Previously, rural communities in India relied primarily on agriculture for income, often struggling to meet basic needs. However, the introduction of new employment opportunities has led to increased and stable wages, resulting in improved income levels. This, in turn, has elevated their standard of living, enabling access to better food, clothing, and housing.
- Enhanced awareness through connectivity: The advent of the internet and communication technology has enabled rural populations to stay informed about current events and issues. This increased awareness has not only helped dispel superstitious beliefs but also empowered rural communities to assert themselves. Access to knowledge and motivation through connectivity has played a significant role in fostering this positive change.
- Disruption of the caste system: Over the past few years, the caste system in rural areas has experienced a decline in significance due to the emergence of new economic opportunities. This has resulted in a shift in social stratification. In traditional agriculture-based economies, people were divided based on their assigned roles. However, under globalization, individuals from different castes within the same village now work together, either within the village itself or in companies outside. Employment opportunities in the globalized and industrialized sectors are based on skills, merit, and abilities, rather than caste. Consequently, individuals from lower castes in rural communities can secure better jobs than those from higher castes, leading to the breakdown of the caste system.
John Don Bosco
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