Two bits about globalization:
I totally agree with all of you.
globalization:

Þ Globalization has brought in its wake liberalization and
privatization as well.
The market dynamics have so changed that from being a
monopolistically competitive economy ,India has gone on to become a
market having perfect competition.

Now,every player be it national or international , is placed on a
level playing field.

Þ This has,in turn reduced bureaucratic red tapism and improved
the quality and the choice of goods and services that are available
to the consumer.

Companies in a bid to remain competitive ,are using total quality
management including 6 sigma methods to effectively utilize their
resources while focusing on increase in both their top line and
bottom line.

The consumer has become king and from being a sellers market ,
today , India has become a buyers market.

Þ The advent of globalization has heralded India into the big
league from being a largely agrarian economy to being a techno savvy
service oriented economy.

Þ Our IT and ITES sectors so also our biotech sectors have got
the much needed fillip only because of globalization.

Þ We have seen unparalleled achievements in business be it the
issue of ADRs and GDRs by reliance ,or the listing of major software
bigwigs like infosys and satyam on the nasdaq.

Þ Technology has improved manifold and with the advent of the
MNCs and TNCs
a structure and organization has come about in the way Indian
companies do business .

Þ Mergers,acquisitions ,vertical integration are all in vogue
now.

Þ The birlas,the ambanis ,etc have even made overseas
acquisitions.

But,there is a flip side to all this.

Þ Globalization has been perceived by many 3rd world countries
as being the new version of colonization of the 3rd world countries
by the the developed nations of the world what with American
companies like nike and adidas having sweat shop like factories for
making shoes in laos,Vietnam and Cambodia.

Þ Also veritable dumping of goods of an inferior quality from
around the world
Has increased due to the free trade agreement.(china,Taiwan etc)


gauri