The impact of Globalization on Economic Development, Emerging Technology and Management Science

Abstract

Globalization is multidimensional process of economic integration, openness and economic interdependent between different countries of the world.It refers the increased interconnectedness of the modern world among economies and the people make them dependent on one another. Technological Development are playing crucial role in allowing the globalization of economic and social activities. Globalization and technology share a casual relationships each gaining from and building on the other.  It has brought the transparency and end of License Permit Raj system, and removes unnecessary controls. It also attracted the countries of the world for foreign investment to enhance the competition. Globalization promoted the industrial, technological developments and given India adopted the best path of global market. A revolution in Science and technology has raise to the new networks of interconnectedness through trade transport and communications. This paper explores the impact of globalization and recent advances in the development on Indian economy. globalization and Technological revolution are reshaping the economies and societies of many countries around the world. Globalization allows the transmission of knowledge especially to the developing countries to improve their performance to compete with the developed countries to imitate their policies and programmes which allowing them to rapid increasing their economy and technological development competitive.Economy is also an important aspect of globalization. Indian economy have also growing steadily and they have assumed an important place in the world economy The process of Globalization has brought the nations closer to each other and formed the one state one world cooperation and peace.

Keywords: globalization, technology development, economic development, revolution