The term Globalization has become very prominent in this century when the whole globe is running towards being ‘Developed’. In this fast growing era of globalization a new term has emerged ‘Sustainable Development’ to overcome the drawbacks of our so called development process. The simplest definition of Sustainable Development is ‘Development that lasts’ – i.e. the path along which the maximization of human well-being for today's generation doesn't lead to declines in future well-beings. Thus Sustainable Development talks about human welfare not just by fulfillment of economic needs but by protecting their right to live in a clean and healthy environment. The social welfare notion was the agenda of government only in ancient times but in this age of globalization private sector is also equally responsible for public welfare. This paper talks about the exclusive roles of public sector and private sector in determining and implementing the innovative, cost effective and long lasting Sustainable development techniques. The paper also focuses on the empirical aspects of such techniques by citing live examples and case studies.
Globalization, Sustainable Development, Public Sector, Private Sector
