[[1]] refers to the integration of a country’s economy with the world economy.

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Globalisation refers to the integration of a country’s economy with the world economy.
Globalisation refers to integrating different countries worldwide through trade and investments by multinational corporations. The globalisation policy was brought to India as part of the 1991 reforms. The country was in a state where it had foreign exchange reserves that could only meet imports for two weeks. The IMF asked the nation to liberalise, privatise and globalise when the government sought its help. Through globalisation, countries have become economically interdependent as people can sell their products and services globally. Globalisation has also allowed for the incorporation of modern technology in less developed countries. However, globalisation has also affected certain producers who were hit hard due to competition.

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