International Journal of Contemporary Research In Multidisciplinary, 2022;1(1):40-42
The Effects of Globalization on India's Economic Development and Income Gaps
Author Name: Devendrappashivappa; Dr. Dineshchandra;
Abstract
Globalization has profoundly impacted India's economic development since the liberalization reforms of 1991. These reforms facilitated rapid GDP growth, driven by the services and industrial sectors, particularly information technology and manufacturing. However, globalization has also exacerbated in come gaps, creating significant disparities between urban and rural areas and among different regions. Urban centers and developed states have disproportionately benefited, while rural areas and less developed states lag behind. Social inequality has also increased, with marginalized communities struggling to access education and healthcare. Addressing these challenges requires inclusive growth strategies, regional development initiatives, and social protection measures to ensure equitable distribution of globalization's benefits.
Keywords
Migration pressures, Skill development, Vocational training, social protection measures, rural development.
