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Globalization

Since the late 1980s India has entered a new era in its economic history following the change in economic policy from one of state led development to liberalization. This shift also ushered in the era of globalizaion a period in which the world is becoming increasingly interconnected not only economically but also culturally and politically.

The term globalization includes a number of trends especially the increase in international movement of commodities, money ,information and people as well as the development of technology and other infrastructure to allow this movement.A central feature of globalization is the increasing extension and integration of markets around the world.

This integration means that changes in a market in one part of the globe may have a profound impact somewhere else far away.The software services industries and buisness processes outsourcing BPO industries are some of the major avenues through which India is getting connected to the global e conomy.Companies based in India provide low cost services and labour to customers located in developed countries of the west.