Liberalisation, Privatisation and Industrialisation in India
The concept of globalisation was first introduced by Adam Smith, the father of modern economics in the year 1776 through the book titled, “Wealth of the Nations”, and since then the globalisation has been liked yo-yo.
In the days of yore, British, Chinese, Indians and Mughals were involved in global business. The Chinese used to sell silk to the world and buy dynamites. The British used to come to India to buy condiments and in return India used to buy ammunition.
So, the point is that - globalisation is not a new concept. In the good old days, globalisation even more prevalent because Indian spices, silk handicrafts, gold, sliver jewellery, etc., were ubiquitous everywhere in Europea.
In the past globalisation meant quid pro quo i.e., one thing for another. But in the early 20thcentury, everything changed when France introduced the system of protectionism and every nation began to create boundaries.
Protectionism destroyed globalisation in total. But again in the late 20th century the winds of globalisation began to blow. Dr. Allen Green Span as well as Dr. Paul Walker began to egg the nation in favour of globalisation and it was July 1, 1991, when India became the part and parcel of globalisation and today every nation, which happens to be a pursuer of globlisation derives plenty of basketfuls of fruits.
The word "goalisation", which connotes where all the nations join their hands d create a kind of synergy to do business or any commercial, cultural or educational activities, in which every participant nation should beneficiary. Globalisation in a nutshell is "one for all and all for no. The purpose behind globalisation has been to open the portals for each and every nation in different fields. A nation can buy from other nation and sell to other nation.
At the time when many analysts predict a booming future for Indian economy India remains hesitant to fully embrace globalisation India and its neighbour China have been tagged as the world's next economic
In the days of yore, British, Chinese, Indians and Mughals were involved in global business. The Chinese used to sell silk to the world and buy dynamites. The British used to come to India to buy condiments and in return India used to buy ammunition.
So, the point is that - globalisation is not a new concept. In the good old days, globalisation even more prevalent because Indian spices, silk handicrafts, gold, sliver jewellery, etc., were ubiquitous everywhere in Europea.
In the past globalisation meant quid pro quo i.e., one thing for another. But in the early 20thcentury, everything changed when France introduced the system of protectionism and every nation began to create boundaries.
Protectionism destroyed globalisation in total. But again in the late 20th century the winds of globalisation began to blow. Dr. Allen Green Span as well as Dr. Paul Walker began to egg the nation in favour of globalisation and it was July 1, 1991, when India became the part and parcel of globalisation and today every nation, which happens to be a pursuer of globlisation derives plenty of basketfuls of fruits.
The word "goalisation", which connotes where all the nations join their hands d create a kind of synergy to do business or any commercial, cultural or educational activities, in which every participant nation should beneficiary. Globalisation in a nutshell is "one for all and all for no. The purpose behind globalisation has been to open the portals for each and every nation in different fields. A nation can buy from other nation and sell to other nation.
At the time when many analysts predict a booming future for Indian economy India remains hesitant to fully embrace globalisation India and its neighbour China have been tagged as the world's next economic