Author(s)

Shuyi Wang

Corresponding Author

Shuyi Wang

ABSTRACT

Since India first adopted the policy of "liberalization, privatization and globalization" in 1991, the process of globalization in India has accelerated considerably and has had a number of socio-economic implications for India. These effects are both positive and negative. Based on 21 articles and available public data, this paper analyzes the impacts of globalization on India's socio-economic structure, import and export trade, unemployment and inequality, and the economic model adopted by India, and finally concludes that after the formal launch of the globalization process, India is essentially using the "Across-Industrialization" economic development model to promote national development and progress and achieve rapid economic growth. This study is important, because the trend of economic globalization is unstoppable, the conclusion of this paper will provide a reference for other developing countries to deal with economic globalization and promote their own economic development.

KEYWORDS

Globalization, Indian Economy, New Economic Policy, Economic Growth Model