Authors : V. R. CHAVAN
Page Nos : 169-171
The concept of global village is very much found in ancient writings in India. The idea of Vashudhaiv Kutumbkam’ i.e. whole world is like a family, is one of the examples of it. Now the process of globalization has spread up just like wildfire in the entire world. This process has its effects on the environment, on culture, on political system, on economic development and prosperity and on human physical wellbeing in societies around the world. So, the world is categorized in undeveloped or poor, developing and developed country. And the three main institutions like IMF, the world Band, and W.T.O. started governing the whole process of globalization. The real trust to the process of globalization was provided by the new economic policy introduced by the government of India in July 1991 at the behest of IMF and the World Bank.