Mains Answer Writing
Globalisation refers to the free movement of people, product, ideas, and capital cutting across national boundaries. It is considered to increase interdependence, interconnectedness and integration of economies and societies thus making the world a borderless global village. However, critics argue that globalisation has affected only certain sections positively.
The selective impact of globalisation on sections and sectors is discussed below:
- Concentration of Profit: Benefits of globalization have largely accrued to the owners of capital and technology. E.g., concentration of profits among multinational corporations and Big Tech firms like Google, Apple, Microsoft etc.
- Jobless Growth: Globalisation has pushed conspicuous consumption and increased aspirations, but these are not matched by inclusive opportunities due to decreasing employment elasticity of growth. This has given rise to corruption and crime. E.g., Jamtara emerging as the phishing capital of India.
- Westoxification: Indiscriminate imitation of the west has led to homogenization of culture through McDonaldization of society. It has caused loss of tradition in art, language, dress code, food habits, festivals, values etc. E.g., dominance of English language over native languages.
- Environmental Impact:
- a) Consumerism which is the driving force of global production fuels excessive resource extraction and waste generation. E.g., e-waste, ‘blood diamonds’ etc.
- b) Developed countries diversify the polluting elements of the supply chain to the developing world. E.g., ship-breaking industry.
- Agriculture sector: Labour-intensive Indian agriculture faces challenges from mechanised and subsidized farming practices from the developed world. E.g., the issue of agriculture subsidies and food-stocking norms under Agreement on Agriculture at WTO.
- Global threats: Globalisation exposes the country to global threats of international financial crisis, tax evasion, pandemic, cross-border terrorism, drug trafficking, religious fundamentalism, etc. E.g., rise of ISIS, base erosion and profit shifting (BEPS).
While it is true that globalisation has been selective in sharing its boons and banes, globalisation’ overall positive impact cannot be overlooked as discussed below:
- Poverty reduction: After India’s economic liberalisation, globalisation helped it reduce extreme poverty as it brought 271 million people out of poverty between 2006 and 2016.
- Economic Development: Globalisation has propelled India’s growth trajectory making it the fastest growing major economy. Rise of the IT sector and service-sector has created a middle-class which forms a robust domestic source of consumption-driven growth.
- Humanistic values: Growth of modern values of individualism, democracy, and secularisation of the value system has improved equality and fairness in societal relations. E.g., reduction in caste-rigidities, improved gender-sensitivity etc.
- International Cooperation: Green revolution was driven by global collaboration on deployment of high yield variety crops. Montreal protocol on Ozone layer depletion and development of Covid vaccines are examples of global cooperation on research.
- Social mobility: Globalisation has made society less fatalistic and more achievement oriented. It has reduced the salience of ascribed identities and improved social mobility through increased opportunities for women and backward castes.
- Ease of living: Globalisation-driven market competition has made goods and services more readily available at affordable prices. E.g., growth of e-commerce.
Globalisation continues to significantly influence Indian society through global economy, global media, and international relations. International events and issues like monetary policy of US Federal reserve or Russia-Ukraine war remind us of this global interconnectedness that has its shares of boons and banes.
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