Globalization and Liberalization
LIBERALIZATION
Liberalization is a policy measure relating to economic policies. It advocates liberalizing of economy against unnecessary controls and regulations. It does not support any unwanted restriction.
In India this policy was introduced in 1991 as New Industrial Policy to liberate the trade and industry from the restrictions of government and abolished the system of industrial licensing.
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Without the policy of liberalization there are undue delays, inefficiency and corruption. But the policy of liberalization brings transparency in the policy and is a type of economic reform.
GLOBALIZATION
Globalization is a broad term that is used for an emerging global society in which economic, political, cultural and environmental events taking place in one part of the world quickly come to have significance for people of other parts of the world.
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Globalization, therefore, is the result of communication and information technologies. It establishes links between individuals, communities and governments. Various international institutions and multinational companies play an important role in Globalization.
People may continue to live in a single nation but culturally or psychologically they are engaged with the lives of people of other countries. Globalization has both positive as well as negative points.
The positive points are: sharing of knowledge, resources technology, investments, values etc. and the negative points are: spreading of diseases, drugs, crime, terrorism, uncontrolled migration etc. The most significant impact of globalization is the increase in trade. In the period from 1950 to 2009, the volume of export grew by 60 times.
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IMPACTS OF LIBERALIZATION AND GLOBALIZATION
## Impact on Agriculture:
Under the policy of liberalization and globalization, the agriculture sector is trying to rationalize its activities to face international competition in marketing the products.
In case of India, the agricultural exports will be
Liberalization is a policy measure relating to economic policies. It advocates liberalizing of economy against unnecessary controls and regulations. It does not support any unwanted restriction.
In India this policy was introduced in 1991 as New Industrial Policy to liberate the trade and industry from the restrictions of government and abolished the system of industrial licensing.
[pic]
Without the policy of liberalization there are undue delays, inefficiency and corruption. But the policy of liberalization brings transparency in the policy and is a type of economic reform.
GLOBALIZATION
Globalization is a broad term that is used for an emerging global society in which economic, political, cultural and environmental events taking place in one part of the world quickly come to have significance for people of other parts of the world.
[pic]
Globalization, therefore, is the result of communication and information technologies. It establishes links between individuals, communities and governments. Various international institutions and multinational companies play an important role in Globalization.
People may continue to live in a single nation but culturally or psychologically they are engaged with the lives of people of other countries. Globalization has both positive as well as negative points.
The positive points are: sharing of knowledge, resources technology, investments, values etc. and the negative points are: spreading of diseases, drugs, crime, terrorism, uncontrolled migration etc. The most significant impact of globalization is the increase in trade. In the period from 1950 to 2009, the volume of export grew by 60 times.
[pic]
IMPACTS OF LIBERALIZATION AND GLOBALIZATION
## Impact on Agriculture:
Under the policy of liberalization and globalization, the agriculture sector is trying to rationalize its activities to face international competition in marketing the products.
In case of India, the agricultural exports will be