Globalisation and Indian Economy

This book presents the changing contours of India’s position in the global economy. The first section deals with India’s defensive posture in the nineties vis-a-vis the Multinational companies. The resistance to speedy opening up of the economy has enabled Indian businesses to become globally competitive. The second section deals with the challenges before India in the beginning of the twenty first millennium as she is increasingly recognized as a world power. The earlier defensive posture has to be changed into an offensive posture now with India aiming to break the economies of the rich countries. This can be done, for example, withdrawing forex reserves from US T-Bills. The third section deals with the challenges before India in establishing a just world order. The question is how to break the inherent injustice in the world economy where 20 percent of the people if rich countries are consuming 80 percent of the resources. India should not tie its wagon to the engine of rich countries and try to gain from injustice of the present world order. Instead, India must take the lead in confronting the injustice perpetrated by the rich countries, organise the developing countries and establish a world economy based on justice