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ISSN Number:
2582-8568


Journal DOI No:
03.2021-11278686

Title:
Impact of Globalization on Developing Countries

Authors:
Tanya Garg , Dr. Jyotika Teckchandani

Cite this Article:
Tanya Garg , Dr. Jyotika Teckchandani ,
Impact of Globalization on Developing Countries,
International Research Journal of Humanities and Interdisciplinary Studies (www.irjhis.com), ISSN : 2582-8568, Volume: 6, Issue: 3, Year: March 2025, Page No : 168-177,
Available at : http://irjhis.com/paper/IRJHIS2503015.pdf

Abstract:

The term "globalization" describes the growing interdependence and connectivity of the world's economies, cultures, and people as a result of developments in technology, communication, and trade. India's economy, society, culture, and politics have all been significantly impacted by globalization. India's economy has benefited from increased foreign direct investment (FDI), simpler access to global markets, and rapid growth in sectors like manufacturing, services, and information technology. These lead to increased GDP growth rates, better job creation, and the expansion of the middle class. However, India has experienced some adverse consequences from globalization. Some regions and demographic groups have benefited more than others, despite the fact that it has reduced poverty and increased income inequality. Local sectors, especially those in agriculture and small-scale manufacturing, have found it difficult to compete with cheaper imports as a result of the flood of goods and services from around the world. Furthermore, the cultural effects of globalization have caused Western ideals and customs to proliferate, which has caused traditional cultural identities in some regions of India to erode. Globalization has forced India to assume a central role in international organizations and alliances, but it has also raised issues with sovereignty and the country's ability to regulate external influences. Despite the opportunities that globalization offers, India must continue to address domestic inequalities like unemployment, poverty, and inequality in order to ensure that the benefits are distributed more fairly.



Keywords:

Globalization, Interdependence, Interconnectivity, Economy, Culture, Politics, Foreign Direct Investment (FDI),International markets, Manufacturing sector, Service sector, Information technology (IT),GDP growth, Middle class growth, Income disparity, Poverty reduction, Small-scale industries, Agriculture sector, Sovereignty, International organizations, Economic inequality and Unemployment.



Publication Details:
Published Paper ID: IRJHIS2503015
Registration ID: 21772
Published In: Volume: 6, Issue: 3, Year: March 2025
Page No: 168-177
ISSN Number: 2582-8568

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ISSN Number

ISSN 2582-8568

Impact Factor

5.71 (2021)

DOI Member


03.2021-11278686