Globalization – Concepts, Opportunities and Challenges: The Indian Experience

Globalization has many meanings and dimensions depending on the context. It has economic, political, social, cultural, environmental, security and other dimensions. In present time globalization has emerged as important force, which helps in integrating the world economy. Globalization is a process through which the diverse world is unified into a single society. The rapid industrial development, opening up of economies and the rapid progress of science and technology has reduced the world into a global village. Globalization has also affected almost all the sector of Indian economy. The main objectives of this study are given as follows: First, to study about concepts of globalization, second, to study about opportunities and challenges of globalization and third, to discuss about impact of globalization on some important indicators of Indian economy.