Rajesh: Let us start from the definition of the term "Globalization".

Globalization is the
increasing interdependence, integration and interaction among people, industry and
government in different locations around the world. Globalization/ internationalization has
actually felt with a number of trends, most of which have developed or accelerated since
World War II. These include greater international movement of commodities, money,
information, and people; and the development of technology, organizations, legal systems,
and infrastructures to allow this movement.

Abhishek: Globalization in its economic sense refers to cross border transaction of goods and
capital flows and increase of free trade between different countries across the globe. But
Globalization is not limited to its Economic sense. It also means political, cultural and
informational Globalization.

Tuhin: Globalization is affecting all of us irrespective of whether we like it or not. If we

logically analyze it, we see that that it affects the economic, social, technological and
political atmosphere of all countries. The Tata Corus deal is as much an example of
Globalization as the espousal of Chicken Tikka and Yoga by westerners. Similarly,
McDonalds', KFC, Giorgio Armani being present in India is also Globalization. I feel that
exposure to Globalization accompanied by the preservation of national identity is a huge
positive. This is because when we get to know a number of various cultures, we have the
option of selecting and consolidating all the positives of these cultures and improving our
national profile more.
Rajesh: Further, Globalization brings a level playing field for all the companies throughout
the world. And only the fittest survives, in the process eliminating the existence of sub-
standard goods. In the process of Globalization finally winner is the consumer. For e.g.,
Indian Govt. has put 200% excise on Scotch. Because of this general Indians cant afford it.
Further the Indian Govt. is indirectly not encouraging Indian industries to explore the field of
Scotch

Tuhin: Also, Globalization has the potential positive because if we analyze the technical
sphere, India can obtain prodigious levels of foreign investment, technical expertise, state of
the art technology which will only contribute to our own betterment. Similarly, agriculture
which is a sore wound in our economic report card can be assuaged if we turn towards
foreign expertise. Keeping this in mind, I feel that it is a beneficial influence.

Shilpa: Globalization means different countries can operate, buy and sell in many countries
that have open market. In Indian context, it has benefited the consumers by providing them
access to many options. Increased competition leads to many changes in the industry,
economy and the culture.

Nilanjan: Well I admit that fact that globalization is good for corporate, but it is harmful for
agro based country like us.

Shilpa: With India opening its economy in 1991, many changes have taken place. Many
small industries have been wiped out. While the really competitive ones have grown by
leaps and bounds, for example Tata Steel, SBI etc

Srikanth: The topic give today is a quite interesting and currently the whole world is also
thinking in the same thing. Yes Globalizations is good for the common people because
Globalization will increase supply more than demand leading to drop of costs. So its good for
customers who need to buy the product.

Rajesh: Because of globalization, we are now able to ride luxury vehicles like Mercedes,
Toyota, Honda, Or else we still would have been riding lousy models like Fiat & Ambassador

Abhishek: Let us first understand few benefits of Globalization

Greater international cultural exchange, Greater international travel and tourism, spread of
local consumer products (e.g., food) to other countries, World-wide sporting events,
Development of a global telecommunications infrastructure and greater transporter data
flow, Promotion of free trade are some of the benefits of Globalization.

Tuhin: Globalization can also be seen from the angle of disappearing physical and
geographic boundaries thanks to technological advancements. Indian call centers and BPOs
are excellent examples of this idea. Today Indian BPO employees can fix a British
housewife's credit card problems in an instant. Similarly, corporate can easily make high
profile decisions with their foreign counterparts by means of a video conference or webinar
in a jiffy. People who are friends and are living in different countries can use the web camera
for the added personal touch.

Srikanth: What Rajesh said is ok but it will also leads to the fall of local brands if they are not
having enough strength to compete. No, not 100 percent, it affects small scale industries in
India.

Nilanjan: We are now preparing SEZ, but are it really good for our countries interest? I think
NO, it is grabbing our fertile agricultural land and on another side of the coin is MNCs are
here only because of the cheap labor.
Lavya: Yes it is true that Globalization is good for the world we live in. its good for the
nations which belong to under developed category to make an alliance with developed
nations and make financial growth

Abhishek: But all this comes at an expense too .Many countries have faced their economy
slowdown because of Globalization. It leads to shutdown of national industries. Just for
example many electrical appliances industries like BPL have faced tremendous competition
from big MNCs like LG and Samsung.

Rajesh: Srikanth. Well you are wrong to some extent. Because of Globalization Indian comp.
like Tata, Birla, UB group, Reliance, ONGC, and many others are able to expand their
market.

Shilpa: Everyone here agrees that it has made consumer the king. But one aspect that
needs to be taken into account is the realty bubble which is due to the sudden rush of MNCs
to set up offices here. Also, with higher pay packages by MNCs, the average income of
households has increased with more people going for 2nd 3rd houses contributing to the
realty process soaring. This has created problems for the common man. Especially those
who are about to retire and do not have skill sets that can be marketed in the free economy.

Tuhin: However, Globalization must not be such that we just adopt foreign practices and
culture blindly without any forethought. We may marvel at American food, clothing and the
way they do business but we may not necessarily want to marvel at their way of living which
includes teenage pregnancies, single parent families, and high rates of divorce and drug
abuse. This is not what a number of Indians associate with. So we may wish to filter this
aspect of influence. India's tryst with Globalization has been good in the sense that FII and
FDI inflows are massive and so is outsourcing. However, in the face of all this we have
managed to preserve our identity.

Srikanth: Rajesh its all about big companies and MNCs. What about small scale industries?

Nilanjan: Our intelligent workforce is becoming back office collies due to Globalization, not
only that MNCs are using our natural resources at very cheap rate.

Rajesh: Globalization is meant for common good. Globalization asks all countries to have
same taxation on all goods, whether foreign or local. But how effectively we utilize it is the
point of contention. For example, America and Western countries are giving huge unfair
compensation to its agricultural industry. Because of this progress of agricultural industries
in developing countries are being hampered. So no individual benefits should be
entertained.

Tuhin: I think that the unfair subsidies which Mr.Rajesh mentions can be offset by having a
lower import duty which will make imports more competitive. This may bring in an element
of competition.

Shilpa: With increased competition, the onus is on higher productivity which is good. The
banking, telecom sectors till now dominated by PSUs have become much more efficient. It
can’t be said that agricultural industries are hampered. Even today the Agricultural industry
in India is growing at 6% against the estimated 3.9%.

Abhishek: Economic arguments by fair trade theorists claim that unrestricted free trade
benefits those with more financial leverage (i.e. the rich) at the expense of the poor. Some
argue that Globalization imposes credit-based economics, resulting in unsustainable growth
of debt and debt crises. Many global institutions that have a strong international influence
are not democratically ruled, nor are their leaders democratically elected. Therefore they
are considered by some as super national undemocratic powers. State-centric nationalists
fear Globalization is displacing the role of nations in global politics and point to NGOs as
encroaching upon the power of individual nations Many countries have benefited from
Globalization and many have hampered their economies due to it.

Shilpa: One thing that has had negative impact is that the lure of easy money has made the
youth give up on building important skills that will help in the long run. Many graduates are
taking p call-centre jobs because of the money factor and neglecting higher education.

Rajesh: Abhishek. Well to some extent some countries are hampered. But it’s on short term.
When we consider in long run every country is getting benefit from global. Well here we all
have agreed that Globalization to some or more extent is beneficial for the World. So let us
now concentrate on how to eliminate the negative impact of globalization and how to
regulate it. One we have to make the regulatory body (WTO) more effective.
Two every country has to abide by the rules set by WTO.
Every contentious issue has to be set by the WTO jury.
Lavya: well the exchange of human resource is important for harmony on earth.
Globalization makes world a good place to make economic progress and prosperity
Abhishek: So the world is thus divided into two groups one favoring it and another against it,
because Globalization promotes overall trade/culture/technology but hampers individual
growth (in some cases)

Tuhin: Countries must adapt Globalization to the extent that their local enterprises are made
more efficient. By this I mean that the retail boom in India which involves the entry of Wal-
Mart and Tesco must be done in a careful way. This must not leave the mom and pop stores
in the cold and neglected. That will be a case of selectively pernicious Globalization. So, the
local shops may also be brought in the fore.

Srikanth: Shilpa , I agree with it but 90%of the people are getting advantage from it. The
poor people who can’t study due to financial problems are doing jobs and studying in
distance course or some way. Any way it’s helping them.

Shilpa: Let's consider retail sector. With players like Wal-Mart coming into play, how can the
small retailers (mostly unorganized) can be protected? How the consumers be protected?
The average tickets at a multiplex are about Rs 150 against Rs 60 in cinema halls.

Abhishek: See we are a developing country and thus we always think for Globalization
because it makes India a better place to be. But countries like US, UK who are developed
see this concept as a fear. It is one of the causes of economic slowdown of US. It may have
benefited some sectors of US but comparing an overall effect, in trade between India and US
its India who benefits more rather than US

Lavya: Globalization is the only tool where we can jointly practice on technology and human
background. Globalization promotes entrepreneurship even in developing countries

Tuhin: As far as neglecting higher education is concerned, we cannot blame the BPOs. We
must look at individual profiles. A person who has a family of 4 and is the only bread winner
and is an English speaking will bless the BPOs because they can they give him his daily
bread. He may not even contemplate higher education.

Rajesh: Shilpa, Your worry about big player entering retail sector is not valid. Customers of
retail outlets are diff, & that of general kiranis are different. For buying 2 kg of rice or dal or
some other, won’t go to retail outlet.

Nilanjan: Developed countries also affected from Globalization, many of the production
unites (i.e Levi jeans) have shifted from there
Abhishek: The software industry in India is on a roll. Now major Big Giants of US software
industry are outsourcing their work to India (for their own profit because Indian provides
them with the cheap alternative) , which should have been done by US citizens. In this case
Indians are benefiting a long way as it provides employment to thousands and thousands of
people in India. But in US? They are now facing problems of Unemployment

Shilpa: Agree with Tuhin. Selectivity is more important. In our country the best players in Oil
are still the PSUs, which mean our government has been successful in implementing
policies. About developed countries, it can have an adverse impact when trade becomes two
way. When developing countries open up, the MNCs get access to new markets. But when
this new markets mature, they will consider the developed countries as potential markets.
Most developing countries like India and China have great operational capabilities. This
prowess can be harmful to the developed countries in the long run. For Example, if Tata’s
start cutting jobs in Corus it will be like the developed UK getting a dose of its own medicine.

Tuhin: Countries like US, UK also benefit from this phenomenon. The influx of yoga, Bhagvad
Gita and other religious artifacts have provided them with the elusive peace of mind which
unbridled capitalism and high stress work environments have taken away from them.

Nilanjan: It is shifted from there and now it’s taking advantages of the cheap labor of
underdeveloped countries.

Lavya: Globalization promotes entrepreneurship and aids making progress even in

developing countries Example : Bajaj - alliance , Corus Tata venture, Bharti Wal-Mart.
Globalization promotes entrepreneurship and even helps existing companies to make
progress eg : Tata Corus, Bharti Wal-Mart, Bajaj - Allianz , Mahindra- Renault

Abhishek: Thus the concept of Globalization is beneficial in some cases and harmful in other
cases because all in all a balance is always maintained.

Shilpa: In case of outsourcing, it can still be considered as exploitation because Indians are
working at a fraction of the cost that the MNC would incur at their home country. In the
absence of an open economy, such staff would have been taken to the MNCs country and
employed there.

Rajesh: If we think about the developed countries, they have even benefited from it.
Because of globalization they have outsourced their job to labor intensive markets in
developing countries. And as a result their industries are saving a lot, and in turn have
become competitive.

Nilanjan: I think Indian corporate are being misguided due to Globalization , Tata paid quite
a high price for Corus, if it is invested in India no doubt profitability would be greater

Tuhin: Another benefit which developed countries have obtained is that of learning better
management concepts. For e.g. the Indian Dabba walas and their phenomenal efficiency in
the supply chain is now at a case study at Harvard. Similarly, the JIT concept and lean
manufacturing of Japanese auto industries are being studied by DC and GM after they lost
out on market share.

Abhishek: Mr.Rajesh and Lavya you are only talking of companies, just see how it has
created a problem of unemployment in the respective countries

Nilanjan: The tendency of buyout of large corporate may cause problems. It may cause
capital scarcity for developing countries like us.

Shilpa: The impact in the cultural front is positive as it helps sharing of ideas, languages, and
cuisines. The economic advantage may one day help overcome the political and religious
barriers and truly the world could become on happy family.

Rajesh: Abhishek. One invests to earn. So how he earns it is a different issue. And in the due
course the companies are making more profit.

Shilpa: One thing we need to consider is in pre-British times, there was trade between
countries but there was no such concept of free economy. Yet the prosperity was
unquestionable.

Abhishek: Just see even if these companies are making profit then why US economy is on
slowdown, why so many people unemployed.

Tuhin: Another downside of the decreasing global barriers due to Globalization is the
terrorist attacks.9/11,7/7, the Madrid bombings as well the Mumbai bombings were
examples of this phenomenon, unfortunately.

Shilpa: One thing that Globalization has helped India is in preserving the brain-drain. Now
 the west is no longer the preferred destination of well qualified people.

http://www.urpercentile.com/: Request everyone to give a concluding statement.

Nilanjan: Impact of Globalization is good to some sectors, but to make a strong base
economy we can’t depend on it, we have to believe on our own strength.

Abhishek: Globalization is like a pan balance which makes the balance between different
countries across the world .It may help a country in one sector but may hamper in other. So
the country must decide its policies for Globalization protecting its own National Interests.

Tuhin: I think that Globalization is positive when you know what positives are to gleaned
from foreign influences. Everything you are exposed to is not healthy .So, if this
phenomenon is welcomed selectively, it will reap rich dividends if we know what will benefit
us and what will not.

Shilpa: I conclude by saying that Globalization has its pros and cons. But it cannot be denied
that the impact it has had on our country has been positive. It has helped Indian companies
to become more competitive and ensured survival of the fittest. Though, policies should be
framed to protect the interest of consumers and there should be restraint in opening the
market at least in some sectors.

1. Re: Effect of recession india

Certainly there is a lot of effect of US recession on Indian economy. US recession has a chain
effect as US imports many things from other countries which includes India. Primarily this has
impact on export industry in India which includes textile industry, granite processing industry,
tobacco exports and so on. It is said that already 5 lakh people have already lost their job in
Indian textile industry.

This is not the end of the story. Now it has also started showing its direct effects on all other
industries as well which include IT and ITES. Proactively many of the companies have started
taking proactive steps to protect them self from the gloomy future. Many small companies were
closed and ready to close, increasing the unemployed people. This will have lot of impact on
peoples spending abilities and the supply chain effect carries forward.

But is every one in India are effect? Yes, but many people may not realize it or many not have
any direct effects. Especially people living in cities will are more exposed to this and people in
towns are less exposed to this situation. This is especially because number of employees working
in private firms are susceptible to this situation and people working for govt. and self employed
are less (these people will have impact only at later stages).

Whats the other side of the coin? Frankly its a overall loss to every one. But this is the right time
for govt. to attract good talent to join in govt. organizations. That way govt can increase its
efficiency and also help country to face this situation. But govt has to act quickly for filling
already vacant positions and creating new jobs.

This is just a cut-short version of the impacts and analysis. This can be discussed for years. But
not now.

Media on Common Wealth Games in India..turning CWG into a matter of

shame ??
1

India is about to organize CWG 2010 in Delhi. First time the CWG will be held in India and second time the event has
been held in Asia. It's matter of proud as well as National Pride to the whole country.

Less than a weak to go, Time is running out fast and the CWG work is in scuffle. Allegations of Corruption, lackluster
efforts, procrastination has led to inefficiency and dissatisfaction, moreover the role home media followed rather
disheartening to say the least. Home media and Including personalities are busy in criticizing the work of CWG
Committee.

Commonwealth Games Committee is facing negative publicity, since negative stories were publicized about the
preparation. Home Media is portraying a negative image making criticism over the preparation and making extensive
coverage of minor hitches and glitches, instead looking to the brighter aspect.

India to host CWG for very fist time, these minor glitches and hiccups do come around. There may be problem as
water dripping somewhere, wall may collapse due to rain but it does not mean the whole Games is bad and cant be
successful. All these small incidents are not the obstacles, they are hiccups only. Agreeing to the face there are some
problem, will be some problem. CWG committee will address carefully.

I do not think media should underestimate these delays, incidents and allegation for corruption etc. Responsible
people should be punished after CWG, but I also believe it is not the right time for media to highlight coverage of
preparation and portraying a very negative image of CWG among people of India and to the rest of the world.

Media should focus on presenting the India's aspirations for glory as the host of the upcoming Commonwealth
Games and work for making it successful. Should work for creating a positive ambiance and energizing the whole
country for CWG. Should provide extensive coverage to preparation on sportsman not to the glitches of CWG
preparation.

Indian Government has done everything possible. Despite the flooded Delhi facing the problem of Dengue and other
epidemic, unprecedented rain have affected the preparation, despite constructed beautiful stadiums, created so much
beautiful infrastructure, there is greenery everywhere. Why cannot media see all these? I have not seen any country
where people (criticize) their own country. My appeal to media and people of India to become positive and present
the positive aspects