Summary (English)

1. Meaning of Globalisation
   – Globalisation refers to the process of growing interconnectedness among countries in economy, culture, politics, and technology.
   – It involves flows of goods, services, ideas, capital, and people across borders.
   – It leads to a shrinking world where national boundaries become less important.

   2. Historical Background
   – Globalisation began with early trade and colonial expansion.
   – The modern phase started after World War II with IMF, World Bank, and GATT (later WTO).
   – Accelerated in the 1990s due to liberalisation, privatisation, and digital technology.

   3. Economic Dimension
   – Integration of national economies through trade, investment, and communication.
   – India liberalised in 1991, opening markets to global trade and capital.
   – Benefits: economic growth and technology transfer.
   – Challenges: unemployment, inequality, dependence on global markets.

   4. Political Dimension
   – Globalisation challenges state sovereignty and increases interdependence.
   – International organisations, MNCs, and NGOs play key roles.
   – States cooperate on global issues like terrorism, pandemics, and climate change.

   5. Cultural Dimension
   – Promotes global exchange of ideas, lifestyles, food, and media.
   – Leads to cultural homogenisation (global western culture).
   – Also causes cultural hybridisation (mix of global and local cultures).

   6. Effects of Globalisation on India
   – Positives: Economic growth, job creation, IT boom, better communication.
   – Negatives: Rural-urban divide, loss of small-scale industries, westernisation.
   – India adapts by blending tradition with modernity.

   7. Global Resistance Movements
   – Movements oppose unequal globalisation.
   – Examples: World Social Forum (WSF), anti-WTO protests.
   – They promote fair trade, environmental protection, and equality.

   8. India’s Approach to Globalisation
   – Actively participates in WTO, IMF, and UN.
   – Supports global trade but protects agriculture and technology sectors.
   – Advocates for an equitable international order.

   9. Key Terms
   – Liberalisation: Removing government restrictions.
   – Privatisation: Transfer of public enterprises to private ownership.
   – Global Village: The world connected through communication.
   – Cultural Homogenisation: Making cultures uniform.
   – Cultural Hybridisation: Mixing of local and global cultures.

   10. Conclusion
   – Globalisation is a mixed process with both benefits and risks.
   – It links economies and cultures but also widens inequality.
   – The goal should be inclusive, fair, and sustainable globalisation.