Globalization and India's 21st-Century Transformation A Historical Appraisal
Year: 2025
Type: article
Abstract: : The 1991 Liberalization–Privatization–Globalization (LPG) reforms inaugurated India’s contemporary globalization. This paper traces how those reforms restructured India’s economy and society in the 21st century through foreign investment, global value chains, the IT–BPM revolution, digital public infrastructure (UPI, Aadhaar, ONDC), cultural flows, and policy reorientations (GST, Digital India, Atmanirbhar Bharat). While globalization accelerated growth and innovation, it also produced regional and sectoral disparities, ecological stresses, and distributional tensions. Using a historical lens with secondary sources and government data, the paper argues that India has shifted from being primarily a recipient of globalization to an active shaper of global flows in technology, pharmaceuticals, and digital payments, even as inclusive and sustainable outcomes remain an unfinished agenda.
Author: Satbhai, Ravi Subhashrao
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W7084968405
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