IMPACT OF GLOBALISATION AND ECONOMIC REFORMS ON EMPLOYMENT IN INDIA

In a general sense, “globalisation” refers to integration of nations through the process of crossnational flows of goods, investment, production and technology. However, any discussion about globalisation raises several questions starting from its definition to the implications. The questions that are specific to this subject are - What is globalisation? Is it an economic concept? Is Globalisation a new phenomenon? How does the process of globalisation operate? Who are all the major players of globalisation? What are the merits and demerits of globalisation? How to maximise benefits of globalisation? or How to minimise the demerits? What are the problems faced by India and what are the challenges ahead for India in the era of Globalisation? What is the impact of globalisation? Though the objective of this paper is not to provide answers to all these questions, an attempt is made to provide a brief outline on globalisation that becomes a base to understand the economic reforms and the employment scenario in India. The paper is divided in to three sections. In the first section, the basics of globalisation are presented. In the section 2, the economic reforms initiated in India are discussed. In the last section, the trends in employment and the impact of globalisation are discussed