The state-centric architecture of the Cold War system has been replaced by a supra-territorial and transnational networked global order. National politics is challenged both “from above”—through new forms of international cooperation and a process of supra-national integration and “from below”—at the regional and local levels. What is globalisation? When did globalisation emerge and spread? Why has globalisation occurred in world politics? How can the adverse effects of globalisation on the economies and polities of liberal democratic Third World countries like India be avoided? These questions, which grip contemporary political debate, form the core concerns of this research paper.