Page 187 - DECO303_INDIAN_ECONOMY_ENGLISH

Indian Economy Tanima Dutta, Lovely Professional University

Notes Unit 11: Globalisation and Its Impact on India

CONTENTS
Objectives
Introduction

11.1 Concept of Globalisation
11.1.1 Characteristics of Globalisation
11.2 Emerging Technology

11.3 Impact of Globalisation on the Functions of Corporations
11.4 Summary
11.5 Keywords
11.6 Review Questions
11.7 Further Readings

Objectives

After studying this unit, you will be able to:
Describe the concept of globalisation
Elaborate the emerging technologies
Discuss the impact of globalisation on the functions of corporations

Introduction

In this unit, you will learn about the concept of globalisation, the emerging technologies and the
impact of globalisation on the functions of corporations.
In the recent past, several meanings of the word ‘globalisation’ have gathered. The word
‘globalise’ was initially attested by the Merriam Webster Dictionary in 1944. To regard the
history of globalisation, few authors focus on events since 1492, but majority scholars and
theorists focus on a much more current past.
Long before 1492, people started to connect together disparate locations on the globe into wide
systems of migration, communication, and interconnections. This creation of systems of
interaction between the global as well as the local has been a central driving force in world
history.
In 325 BC Chandragupta Maurya becomes a Buddhist and links the expansive powers of a world
religion, economy, trade, and imperial armies for the earliest time. Greeks (Selukas) sue for
peace with Chandragupta in 325 BC at Gerosia, marking the eastward connection among overland
routes between the Mediterranean, India, Persia, and Central Asia.

By 1350, networks of trade which included frequent movement of people, animals, goods,
money, and micro-organisms ran from England to China, via France and Italy, across the
Mediterranean to the Levant and Egypt, and thereafter across Central Asia (the Silk Road) and
along sea lanes down the Red Sea, across the Indian Ocean, and via the Straits of Malacca to the
China coast.

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