Last year we had our last chapter in history, which was a brief introduction to ‘Modern History’ i.e. Cold War, Space Age, Atomic Age, Computer Age and Globalization. And the last sentence of the last chapter of my academic history was- ‘And due to all these things globalization has become synonymous to Imperialism.
But which all these reasons? There are many of them. And if you think from the point of view of India then there are even more things.
Though ‘Modern History’ starts with the end of feudalism in France i.e. from the French Revolution the ‘Modern’ here meant history after the Second World War. And then we were told about the important inventions and political developments since the Second World War. It started with Atomic Age, then Space Age, Cold War, Computer Age and last but not the least Globalization.
And that is what I as well as the textbook publishers meant by ‘Modern Globalization.’ And that ‘is’ as the textbook said really synonymous to Modern Globalization. It has many factors common with the Imperialism in olden days.
After the Second World War ended all the European Economies i.e. whether the victors or the vanquished both suffered huge loses. Like the First World War, America too provided financial assistance to the capitalists and U.S.S.R. provided financial assistance to the communists or socialists. In the 1970’s however the European Economies got stabilized and developed. There developed European countries then started looking for markets outside Europe and America. And that is when the Westerners came up with the idea of Globalization and Liberalization.
In the year 1991, Economic Reforms were brought into the dying Indian Economy to revive the Economy. Those reforms were Liberalization, Privatization, and Globalization. These were brought in action by the current Prime Minister and the then Finance Minister Dr. Manmohan Singh. These changes showed their effect and the Indian Economy came back on its track in a matter of some years and the GDP growth rate of over 7% that was a dream for India once was easily achieved. The stock market sprang up from two or three thousand to a miraculous twenty two thousand points mark. With the entry of the MNC’s in Indian Market the competition in the Companies increased and the Manufacturer’s or Manufacturer Dominated Indian Market gradually turned into a Consumer’s Market. Many consumer friendly goods started entering Indian Markets steadily. The coming of MNC’s was also marked with coming of new and modern technology, new sorts of careers, more options for consumer to choose and most importantly higher standards of living.
The MNC’s brought with them foreign currency, employment, vast job opportunities in various fields that were initially considered as job of less scope and social status. The Free Market System has also brought the West closer to India more than ever. The Westerners are taking a keen interest in Indian Culture, History, Politics, Economy and People for the first time since we had lost our freedom to the British in about 1818. As a result of all this India has made a lot of progress and in now a ‘Developing Nation’ from an ‘Underdeveloped Nation’. All this is because of the Economic Reforms of 1991, and all the credit of all this goes to Dr. Manmohan Singh and the finance ministry under him.
However, there are also some minuses to this. The existence of the MNC’s in the Indian Market has caused an extremely big threat to Indian Business and Companies. By open markets the developed countries intended to enter the developing and underdeveloped markets and exploit the resources of those countries. These resources include human population, natural resources. Many Swadeshi Business Firms have closed down or are on the verge of getting closed. This has made the business community in India more materialistic and that in term has caused exploitation of natural resources. Like the Krishna- Godavari Basin Natural Gas Distribution Quarrel in the Ambanis. There has been a considerable destruction of forests and overuse of natural resources after the 1991. We have now begun to dance on the steps of these modern MNC’s. We have started becoming materialistic more than ever before. The greed of money has increased the crime in India and the show off and celebrity lifestyle has set in many social Ill’s as acceptable. The Western Social Influences also have made bad effect on us. We have started selling or say using our natural resources as the MNC’s tell us. All this (I know this is highly exaggerated statement but still it’s a probability) may make us a slave or colony of these Companies as it was one of the world’s first MNC’s that took over India two centuries ago. So we have to be careful about how much to give importance to give these companies.
Like a coin, there are both dark and light sides of LPG. But it’s on us how to face this. Just think of money and profits and votes or also give attention to our rich treasure of cultural, environmental, traditional, lingual & religious diversity and help it remain intact.