Globalization and sectoral development

Globalization of any economy means its integration with the world economy. More importantly, it refers to a process of deepening economic integration, increasing economic openness and growing economic interdependence between countries in the world. The emergence of this phenomenon may be recounted back from the beginning of the 21st century, "Globalization a term first used in 1985 by Theodore Levitt has become a household name in all corners of the world. It is considered as a new avatar of the 18th century s imperialism and colonialism and the 20th century s neo-liberal economic fundamentalism. In its global scope and sophisticated operations, it is referred to as the new face of liberal capitalism. This book contains eighteen articles written by eminent scholars. These research papers are the results of ongoing globalization and they provide futuristic insights. The scholars have tried to grasp various issues related to globalization of world economy and integration of local/national/regional economy. Globalization of agriculture, market and labour is the main area of concern for the economists. The institutional environment and survival of overseas subsidiaries; corporate governance as an enabler to world class organization; rural non-farm employment and structural transformation of the Indian economy, post-liberalization financial and technological collaborations; the rise of the Indian MNCs; foreign direct investment in the real estate sector in India, etc. have been discussed at length in this book. The papers contributed in the book discuss not only the contemporary economic scenario but the future perspectives for globalization as well. It is hoped that the book will serve as a useful tool for the luminaries, research scholars and students as well.