Globalization and the Global Economy

Abstract

With the advancement of automobile technology for last mile communication and other mediums of travel, railways and aeroplanes have made travelling a long distance easier and faster. Also, with more stable governments in most countries, the security of goods and returns increased. This created a global scenario of world trade, which we now call globalisation. India has embraced globalisation in a positive manner with an increase in growth rate and lower unemployment and shows opportunity for future growth, but proper central power and coordination between states can affect the growth of the nation. Thus, this study will investigate various factors and aspects of global economy and globalisation and also relate with the Indian economy. The study will also make a comparative literature study of global economy for different countries. As an outcome, the study will suggest some recommendations/strategies for the issues growing with the Indian economy.