Globalisation and Its Impact

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PCMA Journal of Business
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Globalization and Its Impact on Small Scale Industries in India
Vol. 1, No. 2 (June, 2009) pp. 135-146 ISSN 0974-9977

Sonia, Research Fellow, Department of Commerce, Punjabi University, Patiala(Punjab). Dr. Rajeev Kansal, Reader, Department of Commerce, Punjabi University, Patiala(Punjab).

ABSTRACT Globalization refers to the process of integration of the world into one huge market. It provides several things to several people with removal of all trade barriers among countries. Globalization happens through three channels: trade in goods & services, movement of capital and flow of finance. Globalization in India is generally taken to mean ‘integrating’ the economy of the country with the world economy. The real thrust to the globalization process was provided by the new economic policy introduced by the Government of India in July 1991 at the behest of the IMF and the World Bank. Globalization has led to an ‘Unequal Competition’- a competition between ‘giant MNC’s and dwarf Indian enterprises’. The small scale sector is a vital constituent of overall industrial sector of the country. The small scale sector forms a dominant part of Indian industry and contributing to a significant proportion of production, exports and employment. Therefore, the present study analyzes the impact of globalization on Indian Small Scale Industries. The main theme of the paper is to evaluate the performance of SSI, before and after liberalization and compare them with average annual growth rates, to know the impact of Globalization on the performance of SSI. The period of the study is 1973- 2007 and based on secondary information. Keywords:- Globalization, Small Scale Industries, Exponential Growth, Production, No. of Units, Export and Employment.

INTRODUCTION Globalization signifies a process of internationalization plus liberalization, in which the world has become a small village due to the concept of globalization. The competition has



Bibliography: · · · · Bala, N, (20007), Economic Reforms and Growth of Small Scale Industries, Deep & Deep Publications, New Delhi

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