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Economic globalization has fundamentally transformed the dynamics between governments and businesses worldwide, reshaping their roles, responsibilities, and interactions in ways that were scarcely imagined a few decades ago. Globalization refers to the intensification of economic, political, and social interconnections across nations, characterized by the increased mobility of goods, services, capital, technology, and labor. This process has not only expanded markets and competition but also created complex interdependencies between public institutions and private enterprises, redefining the traditional government-business interface. In the context of business ethics and corporate social responsibility (CSR), this redefinition is particularly significant, as it has introduced new expectations, obligations, and strategic imperatives for both actors. One of the most profound effects of economic globalization on the government-business relationship is the shift from a predominantly regulatory and controlling role of government to a more facilitative and collaborative role. In the past, governments were primarily viewed as regulators whose main function was to establish laws, enforce compliance, and ensure fair competition within domestic markets. Businesses, in contrast, were largely concerned with profit generation within the boundaries defined by national laws. Globalization has challenged this binary model. With the rapid integration of global markets, governments now recognize that fostering a competitive and innovative business environment is crucial not only for economic growth but also for maintaining a country’s global standing. Consequently, governments have increasingly engaged with businesses as strategic partners rather than mere subjects of regulation. This paradigm shift is evident in policies promoting public-private partnerships, trade facilitation, investment incentives, and deregulation aimed at creating a conducive business climate. In the Indian context, economic globalization has triggered significant reforms in government-business ________ ___ ____ ______ _______ ________ _________ ___ _________ _______ __________.
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