Pros and cons of globalization on Indian sericulture industry

The wave of globalization appeared on India's shores in 1991, with the onset of liberalization and globalization a new chapter has dawned for India and her billion plus population. The world is more interdependent now than ever before. Money, services, technology and raw materials have broken the International barriers. Not only products and finances, but also ideas and cultures have breached the national boundaries. Globalization gradually phases out government control of the market (liberalization), privatize the public sector organizations (privatization) and reduce export subsidies and import barriers to enable free trade (globalization). The economic transition has had a tremendous impact on the overall economic development of almost all major sectors of the economy; Sericulture Industry is one among them.

Sericulture is a multifaceted agro-based cottage industry, which aims at uplifting the socio-economic standards of its practioners. As a dynamic small-scale industry the employment potential of the silk industry is substantial. The major activities of sericulture comprises of food-plant cultivation to feed the silkworms which spin silk cocoons and reeling the cocoons for unwinding the silk filament for value added benefits such as processing and weaving. The broad-based development of the agro-based industry will improve both the social and physical infrastructure of India. Sericulture being an agro-based enterprise plays a predominant role in shaping the economic destiny of the rural people and fits very well in India's rural structure, where agriculture continues to be the main industry. In view of the significance of sericulture industry for the rural development we have made an to discuss the pros and cons of globalization on sericulture industry and strategies to be taken to meet the global challenge.