Globalization has had a significant impact on Indian society, leading to both positive and negative effects. Some of the key effects of globalization on Indian society include:

Positive effects:

1. Economic growth: Globalization has led to an increase in India’s economic growth rate, with GDP growth averaging over 7% per annum in the past two decades. This has created new job opportunities and improved living standards for many Indians.
2. Increased foreign investment: Globalization has attracted foreign investment into India, particularly in the IT, pharmaceutical, and manufacturing sectors. This has led to the creation of new industries and jobs.
3. Access to global markets: Globalization has given Indian businesses access to global markets, enabling them to export goods and services to other countries.
4. Improved technology: Globalization has brought about rapid advances in technology, which has improved communication, transportation, and healthcare facilities in India.
5. Cultural exchange: Globalization has facilitated cultural exchange between India and other countries, promoting understanding and cooperation.

Negative effects:

1. Unemployment: While globalization has created new job opportunities, it has also led to job displacement in traditional sectors such as agriculture and manufacturing.
2. Income inequality: The benefits of globalization have not been evenly distributed, leading to increased income inequality between the rich and the poor.
3. Brain drain: Many Indian professionals have left the country to work abroad, leading to a brain drain and a shortage of skilled workers in certain fields.
4. Cultural homogenization: Globalization has led to the spread of Western culture, threatening traditional Indian customs and values.
5. Environmental degradation: The rapid economic growth driven by globalization has led to environmental degradation, pollution, and climate change.
6. Rise of consumerism: Globalization has promoted consumerism, leading to an increase in materialism and a decrease in spiritual values.
7. Impact on traditional industries: Globalization has disrupted traditional industries such as handicrafts, textiles, and agriculture, leading to job losses and poverty among rural communities.
8. Increased cost of living: The influx of foreign goods and services has increased the cost of living in India, making it difficult for many people to afford basic necessities.

To mitigate the negative effects of globalization, the Indian government has implemented policies such as:

1. Social protection programs: To reduce poverty and income inequality.
2. Infrastructure development: To improve transportation and communication networks.
3. Education and skill development: To increase the employability of Indian workers.
4. Protectionist policies: To protect traditional industries from foreign competition.
5. Sustainable development: To promote environmentally friendly practices.