Is Globalization Really Necessary? group discussion [GD]

group discussion

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Take the initiative to participate and contribute your thoughts.
Express your positive attitude towards providing the solution.

raj said:

Yes Globalization is necessary, for an economy to grow. Globalization refers to the integration of economic, technological, socio-political factors with the world. And with globalization, with the mutual co-operation and assistance - particularly with reference to the law of comparative advantage- it is going to be beneficial...

Globalization also helps reducing the poverty level in the country-there are plenty of evidences and record to support it. Developing countries specially require globalization. Because Indians are very rich in resources of skilled manpower. So Other countries are interested to invest in India. We don't have that much funds/money to make very huge industries or developments. There is no shame to invite other countries for investing. Lot of advantages are there. Employment, infrastructure development, tourism, foreign exchange and etc. Even America would be nowhere if globalization was an imaginary concept never put forward.

Half the world's countries would be reeling in depression right now if not for globalization. For example, petroleum, most countries are on the verge of depleting their entire reserves and some countries don't have it at all. Seeing this if not for globalization the entire world would be left crippled due to the massive energy crisis facing them.

While globalization is necessary it is not sufficient to ensure communities gain from globalization. To keep and spread the gains, government must not only reduce barriers to trade and investment, they must also get domestic policies right. Many people may think that globalization is making poor countries poorer.

However the evidence is very convincing that developing countries that globalize grow and reduce poverty level faster than those that do not. For example, recent study of 72 developing countries shows in the 1990's globalisng developing economies real incomes and output grew faster, on average about 4 times faster, than inward looking economies' output.


ram said:
Hello my friends,

I would like to concentrate on only one point-.

In today, s world globalization is very much necessary.

Globalization means sharing our knowledge, technologies, trade, capital, values and ethics with other countries of world.

What is India, s biggest problem today that hamper its economic growth?one of main reason is poverty.

Now why is it necessary? because India is basically a agricultural based country where most of the people living below under poverty line. As we know globalization is a process which basically starts in early 1991. With the process of globalization, we can see rapid progress in industrialization occurs because of FDI. Many private companies are eager to invest in our country. Due to industrialization, GDP rate of India increases to 7. 5-8% from. 5 % in 1991. So, due to industrialization, lot of job opportunities increases. So the problem of poverty can only be solved due to globalization.

So globalisation is necessary.






kumar said:Before saying yes or no....We need to analyze India's stand before Globalization.

As so many of my friend has discussed the meaning of Globalization above. I wouldn't waste time on it.

The wave of globalization appeared on India’s shores only in 1991, much after China’s and some other Southeast Asian countries.

As a new participant in the globalization wave, India went through several structural and policy changes.

In 1991 India's GDP rate was 0.96%. Where as the current GDP rate for the financial year 2011-2012 is projected at 7.5% to 8%.

From the 1991 onwards India is walking on the track of development. Globalization has affected everything positively from living standard to external trade and investment, from agriculture to banking and finance, from industry and infrastructure to global trade relations, and from education to employment.

So, we can say that Globalization has not only bring a new wave to the Indian economy
but also boosts it at a large scale.

India continues to grow at a rapid pace, although the government recently reduced its annual GDP growth projection from 9% to 8% for the current fiscal year ending March 2012.

Though in this race of faster growing economies several of our Indian states lagging behind. A critical problem facing India's economy is the sharp and growing regional variations among India's different states and territories in terms of poverty, availability of infrastructure and socio-economic development. Six low-income states – Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Orissa and Uttar Pradesh – are home to more than one third of India's population. Severe disparities exist among states in terms of income, literacy rates, life expectancy and living conditions.

Corruption has been one of the pervasive problems affecting India.

Every medicine has it's own side effects. So, it can't be said that it's unnecessary.
In fact, it is necessary to spread the development & globalization and reach out to the states which have been suffering in pace..