Globalization and Poverty in India

Lalima Singh

No 2013-5-10, Working papers from Voice of Research

Abstract: Globalization has many meanings depending on the context and on the person who is talking about. In context to India, globalisation implies opening up the economy to foreign direct investment by providing facilities to foreign companies to invest in different fields of economic activity in India, removing constraints and obstacles to the entry of MNCs in India, allowing Indian companies to enter in to foreign collaborations and also encouraging them to set up joint ventures abroad etc. The emergence of global integration brought with it a lot many obvious gains, in terms of high rates of growth, transfer of technology, availability of funds and induction of competition. Pure theoretical sense free markets must lead to equalization of opportunities, usage of resources prices; provided there is uninterrupted mobility of factors of production, especially labour & capital. The paper discusses the ongoing debate about the effect of globalization on Indian poverty level. Key words: globalization, poverty, capitalism

Date: 2013-03
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