In the year 1492, Columbus had set sail to discover an India rich in Spices and treasure. In the twenty first century the world has set sail for India for finding that treasure, as the trend shows.
A large number of global multinational brands such as Coca-Cola, Google, Micro-soft and Mercedes-Benz have successfully operating in India. Indian Brands which were operating locally in India earlier have started competing internationally. From New Delhi to New York brands have become global.
Pattern of consumption in India has also changed. Level of spending on the private consumption has been growing significantly. Spending by young consumers in India is regarded as the most powerful consumers.
In an era of globalized environment, the country has become a major player in the socio-economic fields from merely a third world country. BRIC and other reports have forecasted India to be the third largest economy by 2040.
Globalization in India has transformed the country’s system. Presently India is regarded as an economy dominated country rather than politics driven, as it was earlier. Political dominance has fallen significantly these days.
Adoption of
Globalization in India and liberalization principles has widened the horizon of country's Consumers worldwide. Consumers in India have become more conscious. Market information in India has become clear.
Liberalized policies have led the industrial sector to grow at a faster pace. BPO, IT, ITES, Retail and Insurance sector have performed well. Both male and female have got equal opportunity in that sector. The success for India is the reduction in gender inequality in India.
More over, development in education and awareness is largely marked in the country in the era of
Globalization in India.