01 April, 2020
8 Min Read
COVID-19 and Globalisation
Part of: GS Prelims and GS-III- Economy
What is Globalisation?
The meaning of Globalisation is usually interpreted to indicate the integration of the economy of the nation with the world economy, it is a multifaceted aspect. It is a result of the collection of multiple strategies that are directed at transforming the world towards greater interdependence and integration. It includes the creation of networks and pursuits transforming social, economic and geographical barriers. Globalisation tries to build links in such a way that the events in India can be determined by events happening distances away.
To put it in other words, Globalisation is the method of interaction and union among people, corporations and governments universally.
Effect of Globalisation in India
India is one of the countries that succeeded significantly after the initiation and implementation of Globalisation. The growth of foreign investment in the field of corporate, retail, and the scientific sector is enormous in the country. It also had a tremendous impact on the social, monetary, cultural, and political area. In recent year, Globalisation has increased due to improvements in transportation and information technology. With the improved global synergies comes the growth of global trade, doctrines and culture.
Covid-19 and Globalisation
Global leaders have reached this consensus that the pandemic Covid-19 and the crisis it has generated is a turning point in modern history.
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