Monday, March 23, 2009

Will globalization benefit India?

In some sense, everyone benefits out of globalization, as it lifts the level of competition forcing everyone to deliver at a certain minimum level, below which the service or product will not survive. When this happens there is an automatic course correction and improved quality of the services and products.
For India to derive maximum out of the globalization, the Government needs to start promoting their work horses (90% of the population) and thinkers (10% of the population). Provide more opportunities for entrepreneurship by coming up with friendly policies and anti-corruption.

1 comment:

Anonymous said...

I too agree with your viewpoint that globalization will increase the productivity, power and efficiency of companies in India and it will create a benchmark for companies in term of quality and price.
But the question which is haunting me is that if giant like WalMart, Carrefour etc enter India in Retail sector they will wipe out the smaller players from the market due to their size and deeper pockets. Thousands of mom & pops shops and Kirana Stores will get closed and thousands will loose their job.
Thus I feel that India should take precautionary measures before they allow any giant company to trade in India. India can't afford globalization on the cost of job loss of thousands and losing its market to some big MNC. Many Indian companies are still not ready to compete with them and they require time, latest technology and government support to compete.