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NOTES FOR THE TEACHER CHAPTER 4 : GLOBALISATION AND THE INDIAN ECONOMY Most regions of the world are getting increasingly of trade and investment policies and, pressures interconnected. While this interconnectedness from international organisations such as the across countries has many dimensions — WTO. Improvement in technology is a fascinating cultural, political, social and economic — this area for students and you may, with a few chapter looks at globalisation in a more limited directions, encourage them to do their own sense. It defines globalisation as the integration explorations. While discussing liberalisation, you between countries through foreign trade and have to keep in mind that the students are foreign investments by multinational unaware of what India was like in the corporations (MNCs). As you will notice, the more pre-liberalisation era. A role-play could be complex issues of portfolio investment have been conceived to compare and contrast the pre and left out. post-liberalisation era. Similarly, international If we look at the past thirty years or so, we negotiations under WTO and the uneven find that MNCs have been a major force in the balances in power are interesting subjects that globalisation process connecting distant regions can be covered in a discussion mode rather than as lectures. of the world. Why are the MNCs spreading their production to other countries and what are the The final section covers the impact of ways in which they are doing so? The first part globalisation. To what extent has globalisation of the chapter discusses this. Rather than contributed to the development process? This relying on quantitative estimates, the rapid rise section draws on the topics covered in Chapters and influence of the MNCs has been shown 1 and 2 (for example, what is a fair development through a variety of examples, mainly drawn goal), which you can refer to. Also, examples and from the Indian context. Note that the examples activities drawn from the local environment are are an aid to explain a more general point. While a must while discussing this section. This might teaching, the emphasis should be on the ideas include contexts that have not been covered in and examples are to be used as illustrations. the chapter, such as the impact of imports on You can also creatively use comprehension passages like the one given after Section II to local farmers, etc. Collective brainstorming sessions can be conducted to analyse such test and reinforce new concepts. situations. Integration of production and integration of Sources for Information markets is a key idea behind understanding the The call for a fairer globalisation has been given, process of globalisation and its impact. This has been dealt with at length in this chapter, among others, by the International Labour highlighting the role of MNCs in the process. You Organisation — www.ilo.org.Another interesting have to ensure that the students grasp this idea resourceistheWTOwebsitehttp://www.wto.org. with sufficient clarity, before moving on to the It gives access to the variety of agreements that are being negotiated at the WTO. For company next topic. related information, most MNCs have their own Globalisation has been facilitated by several factors. Three of these have been highlighted: websites. If you want to critically look at the MNCs, one recommended website is rapid improvements in technology, liberalisation www.corporatewatch.org.uk. 54 U NDERST ANDING E CONOMIC D EVEL OPMENT Reprint 2026-27