Introduction Globalization has unleashed the tremendous forces of competition. It has given the Indian economy a big boost and has made the entire population sit up and take notice. Newer businesses have emerged. Entrepreneurship has now reached record levels never reached before. Women have found jobs in hundreds of thousands. More specifically, the discussion on Globalization and how it has changed our lives will have particular reference to a) Terrific competition everywhere b) End of the license-raj permit raj c) Spread of new jobs all over India d) The boom in education e) Emergence of new businesses and f) the Infectious enthusiasm to go ahead in life.
Terrific competition everywhere Take cars that we buy for our personal transportation. We had only two major brands called Ambassador and Fiat. We really did not have any choice. The Ambassador was a fairly good car, but it had its own disadvantages. For example, the quality was very bad and we had to make constant trips to our friendly neighborhood mechanic. In cities like Kolkata, we can still see some Ambassador cars plying around as taxis. However, these cars will soon fade out.
Hindustan Motors, which still belongs to one of the famous Birla group of companies, has even stopped production. Fiat cars are sold for less than Rs.30,000 in major cities and are repaired and used very sparingly. The Maruti cars and the Hyundai cars have taken over. Tata Motors, which was not present in cars, came out with stunning models and is a formidable competitor. Honda from Japan is present too. Maruti itself is fully owned by Suzuki of Japan. BMW. Volkswagen, Ford, GM -- name the multinational brand and they are all here, fighting it out with cars of different designs and prices. The customer has never had it better before.
The same is true of cell phones, two-wheelers, televisions, washing machines, mixies, wet grinders and what have you. Yes, the prices are somewhat costly in most cases. But there is a big value for money. A good Dell laptop costs around Rs.40,000 but everyone is so happy to invest this money. Finance schemes from banks are available to buy anything under the sun.
All this has been made possible, only because there have been tremendous changes initiated by the likes of Dr. Manmohan Singh, P. Chidambaram and piloted by the late Mr. Narasimha Rao. The successive Governments have also chipped in with massive expansion of the infrastructure everywhere. We now have world-class private airports in New Delhi, Hyderabad, and Bangalore. Every single State Government is fiercely competing for a share of the foreign pie and it is indeed coming. The private ports have come up. Private sector competition in bus transport has helped the customer have too many choices. In hotels, theatres, shopping malls, and the theme parks one can easily find the New India. The young, fairly well-paid crowd with some sort of disposable income. Western thinking dominates the mindsets of young people. Hard work is the name of the game.
End of the license-raj, permit raj Prior to 1991, the year of economic reforms, the Government officials made themselves so rich through corruption. They were paid bribes and if a single file had to move, one had to pay money. Everything was based on the corruption of a tall order.
Single-window clearances were the order of the day, in the post-1991 period. In particular, States like Andhra Pradesh and Gujarat were piloted by Chief Ministers who cleared everything in one day. Such a fast pace of work made life easy for the businessmen and industrialists. The consumer was benefitted like never before. One could set up a plant to manufacture just about anything. Private sector Special Economic Zones have generated hundreds of thousands of direct and indirect jobs. The Mahindra World city, the first ever SEZ in the country near Chennai and the Sricity just seventy-five kilometers from Chennai, have reportedly generated direct and indirect employment to the tune of ten lakh. Imagine the spin-off in terms of such huge amounts of money being re-invested in rental or own homes, education, transport, clothing, entertainment and what have you.
It is no wonder that Chennai has virtually exploded on the Southern side and one place called Accharapakkam which is one hundred kilometers from Chennai, is now considered a suburb of the city!! Similar is the case with the growth of Mumbai, New Delhi, Pune, Hyderabad, Bangalore and even B class cities like Coimbatore, Vizag, and Kochi. The growth is a never-ending process.
Urban India has so many economies within it. There is a big economy for the middle class. There is a thriving economy for the poor too. The largest slum in Asia, called Dharavi, is said to be the biggest for the economy for the poor. Everyone lives. Everyone has a piece of the cake. For example, multinational brands have very good detergent powders and soaps selling for just rupees ten apiece. Every single Indian can jolly well afford such costs. All this has been possible only through perfect competition and this has been possible only because of Globalization.
Spread of new jobs all over IndiaBig Bazaar, the big daddy of organized retail in India, is present everywhere. It has branches everywhere including cities like Bhubaneswar. Infosys Technologies, the Indian IT giant has a unit in Bhubaneswar. Hundreds of thousands of new jobs have been generated for a diploma or degree holders in hotel management, tourism, business management, insurance management, in the mutual funds, in private sector insurance, banking, and what have you. The explosion in jobs is still an ongoing process. There is no end to it at all. The IT-enabled service sector has seen food being served at doorsteps. The A to Z catering services and the event management companies are now minting money, all over India.
The new jobs are coming up every day. There are jewelry designers and professionals who specialize in Tanjore painting. There are people who offer you medical care at home. For every single service, you may have to pay extra but the most advanced technology is available to guide you. Google, the American giant is so much a part of our lives. We just cannot exist without it. Google is now used a verb,
The boom in education Ever heard of a course called B.Tech in Bio-informatics before 1991? Or a B.Tech in Biotechnology? An advanced degree in Data Analytics? Cloud computing? SAP?
The new courses and the superb deemed Universities like SRM, VIT, Lovely Professional University, Symbiosis, Manipal and at least twenty more of the same tribe, are all symbols of the New India. They have produced technocrats who have gone abroad to study in the USA and occupy the senior-most positions in various global companies. The IITs and the IIMs have spread too. There is now a huge explosion in the number of professionals in every field. All this adds value for what we call as the biggest advantage --the demographic dividend of India.
Emergence of new businessesThe service sector has expanded and there is huge enthusiasm everywhere. Specialized restaurants are coming up everywhere. The number of entrepreneurs selling and servicing cell phones and their accessories throughout India would exceed five lakh at a bare minimum.
There has been a huge expansion of IT-enabled services everywhere. The boom is an ongoing process. For example, there is a big revolution happening in the personal transportation industry. The Uber and Ola cars, for example, have Google maps installed. They are very cheap too. They have made the auto rickshaw guys who were fleecing the public in most cities, see red. In every city, there is a big craze for new services, every single bit of it, being computerized.
Even A to Z marriages are fully computerized. The new designs of buildings in terms of residences and the commercial complexes are all driven through advanced IT. Railway stations have very good internet facilities for free.
Infectious enthusiasm to go ahead in life. The the craze to concentrate on wants is now complete. The younger generation would spend even Rs.7000 a month on grooming. The empowerment is now taking new directions. This is indeed the new infectious enthusiasm and the biggest advantage as well. In the years to come, this enthusiasm will multiply all over and will cover at least fifty million new customers. This is itself such a huge number. No wonder, every single multinational wants to come to India. The market is so huge that it can never be ignored.
ConclusionThe Globalization process is never complete. It is still going on. However, it has brought in a big emphasis on quality and excellence. It has made the younger generation work very hard. It has made the Indian economy one of the fastest growing in the world. Every single piece of action is so exciting and this is the biggest advantage of a nation on its move.
Globalization is irreversible for sure.
Globalization has changed the face of India. Thanks to the visionary Prime Minister Mr. P V Narasimha Rao. All the youth today who are in good jobs and earning hefty amounts should be grateful to this man who is responsible for the development of the country in this direction. Only when there is a competition, quality will come into priority. When there is no choice one should be happy with the existing product. But when there is a competition one will try for a better quality material at a reasonable price. Especially the IT sector is a boon to Indian Youth. Our expectations are less when compared to people from some other countries. That made many companies come to India and open their shops here. I know the scenario before and after globalisation and it is a big change. A nice article from the Author.
A very exhaustive article on the globalisation and it's perceived benefits in our country.
Before globalisation we were in our own world thinking that we have everything and we do not want to mix with the world. Only after globalisation we came to know that in fact we were living in a backward world of our own but not knowing that.
Today if any innovation takes place in the world and a new appliance or gadget is launched we also get to see it in no time.
There is a demand of organic and natural products and it is only the process of globalisation that we are now exporting it to the various countries. The phenomenal success and acceptance of Patanjali products in foreign market is a testimony to this.
There is no doubt that globisation has helped many countries to sell their product in our country but we are also benefitted as our herbal and ayurvedic products are getting recognised outside.
The Yoga techniques have become so popular in the world and the western countries are looking towards us for spiritual salvation.
Yes Sir. Yoga is a huge money spinner. Many Gurujis are minting money in USA and most parts of Europe.
Similarly, if we market our culture properly, we can get hundreds of thousands of tourists in each of our States. Millions come every year to celebrate Pongal in exactly the same way our farmers celebrate it.
However, a lot more professional marketing needs to happen. Safety of foreign women tourists is another aspect. Sir, it is not only Pathanjali. Am told our handicrafts are also being exported.