Abstract

There is a lot of talk around about Globalisation and its mana-like benefits; indeed, there are many, in areas such as the spread of communication capabilities, social media, and wider distribution of goods in the free trade marketplace that in previous decades were ‘protected’ by exorbitant excise tariffs, licensing restrictions, and low turn-overs. Since Weber, Robertson, Wallerstein, Appadurai, Tambiah et al, there has been much theorizing on the inevitability of Globalisation and its neat corollaries, Free Trade, Liberalisation, Parallel Modernities, and Economic Rationalism. Yet, Globalisation has both its protagonists and antagonists alike. The paper focuses on case studies from the Indian-end, impelled by the question: in what ways has Globalisation benefited and hurt India’s economy, the slow growth and periodic stagnation of its capabilities, the stability of the nation and its people? As part of the reciprocal deal on Liberalisation, Free Trade agreement has enabled myriads of TNCs with to reign in large Western capital-investment and start-up industrial bases, which have undoubtedly helped push India to becoming the third largest world economy. However, the encroachments of TNCs and their impact on agro-economics, biodiversity, the plight of farmers, the further disenfranchisement of numerically small from a share in the national weal, the uneven regional deliverance from poverty, malnutrition, the disproportionate gender-ratio, rural illiteracy among the neglected, and other fall-outs, have worried critics of India’s ‘easy ride’ on the highway of Globalisation. The arguments will be developed extensively with illustrations.