What is globalization? Discuss the impact of globalization on development in India?

Globalization is a multifaceted phenomenon characterized by the increasing interconnectedness and interdependence of countries through the exchange of goods, services, information, and ideas. It involves the integration of economies, societies, and cultures on a global scale, driven by advancements in technology, communication, and transportation. In the context of India, globalization has been a significant force shaping the country's economic, social, and political landscape.

Economic Impact:

1. Trade Liberalization: One of the primary components of globalization is the liberalization of trade barriers. India, especially in the early 1990s, underwent economic reforms that opened up its markets to the world. This led to increased foreign trade, as Indian businesses gained access to global markets and vice versa. The expansion of trade has played a crucial role in driving economic growth.

2. Foreign Direct Investment (FDI): Globalization has facilitated a surge in foreign direct ___ ________ _____ _________ _________ ___ _____ ______ ___ _______ ______.
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