Globalisation : The process that involves changes in economic, political, social, and cultural spheres of society as the entire world is interconnected and interdependent. One of the main reasons for the interdependency and connectivity is the growth in trade and technology.

Globalisation has resulted in the removal of boundaries in terms of connection and communication between people across the globe. 

Marshall McLuhan introduces the concept of a ‘Global Village’ in which he believes that the interconnectedness through technology which is again the result of the internet would turn the world into a global village, without the people being physically present to be connected.

Effects of Globalisation on our society:

Globalisation has both positive and negative impacts on our society. 

Economic Perspective –  1) Globalisation has opened up the trade and market for people across the globe and there is scope for investment, growth, and thereby development in our society. 

2) It is true that development per se is not uniform or even in different sections of society. 

3) Globally there is competition in the market which could lead to inequality and unemployment across fields. 

Social and Cultural Perspective – 

1)  The influence of different lifestyles, cultures, and ideas is a result of globalisation. Ritzer explains the concept of McDonaldisation of society concerning fast food chains, as the characteristics of fast-food chains are present in our society and its institutions. 

2) It has effects when it comes to urbanization, migration, and related social issues. It had given opportunities to various depressed sections and also exposed them to discrimination in those places. 

Political Perspective – 

1) Globalisation has opened the Indian economy to FDI , FPI, and the movement of MNCs from India and also to India. But one of the major impacts of globalisation in a developing country like India would be the gradual loss of sovereignty with the advent of powers like WTO, IMF, etc.

2) It might result in transnational movements and terrorism, cybercrime, and other regional conflicts.

Way Forward: Globalisation indeed has both positive and negative impacts on our society, but the positive impact economically is more when compared politically and socially. Globalisation is essential in today’s world but for a developing country like India, the process has to be gradual for it to have good governance on its own. Also, the development has to be equal for all the sections of the society. Only then the development can be called a real development.