Economic Globalization in India: The Role of Old and New Traditions in the Development of Socioeconomic Values for Positive Globalization

By Santosh Saha.

Published by The Social Sciences Collection

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Article: Electronic $US5.00

In the wake of “tearing down” the Berlin Wall, the process of neo-liberal economic globalization entered into a new phase provoking discussions on the meaning of globalization that contains stark value judgments. The incipient liberalization created considerable interest among the Indian urban middle classes and confident industrialists. However, a contrasting trend soon became evident in the emergence of movements protesting against economic globalization and giving new momentum to the defense of local uniqueness and perceived threat to national identity. The Indian intellectual movement introducing “glocalization” (though not necessarily) provides an example in “hybridity” to testify that economic globalization has always been influenced by an amicable cultural norm that has, throughout ages, been an important mechanism in universalizing particularism as well as the particularization of universalism. Today, economic globalization takes a standardized consumer culture in contrast to both the Hindu scriptural ill-defined economic value systems and neo-Marxist stoic view, which opposes international trade, commerce, and multinational finance. Whereas for the neo-Marxists in India, anti-globalization is a war on wealth, for the nationalists and religious Hindu revivalists, globalization is an attack on swadeshi economic self-reliance, believed to be a spiritual corrective. My study raises and verifies three interconnected issues: First, what have been the cultural urges in ancient and medieval eras in promoting globalization? How do they differ from the current trends? Second, what has been the extent and direction of culture in accelerating global trade links? Last, what are the results of globalization, especially in making poverty worse than before in poverty-stricken modern India?

Keywords: Economic Globalization, Cultural Urges, Poverty, Southernization, Indian Political Economy

International Journal of Interdisciplinary Social Sciences, Volume 5, Issue 2, pp.79-96. Article: Print (Spiral Bound). Article: Electronic (PDF File; 667.920KB).

Dr. Santosh Saha

Professor of History, Department of History, University of Mount Union, North Canton, Ohio, USA

Saha taught history in colleges/universities in India, Ethiopia, Zambia, Liberia and USA. He is, among others, on the Editorial Board of Journal of Asian Affairs and International Journal of Asian Studies. During the last few years, Professor Saha presented research presentations in conferences at Oxford University, UK; Darwin University, Darwin, Australia, Australian University, Brisbane; Russian Academy of Sciences in Moscow; University of Peru in Lima; University of Scotland, etc. His articles have appeared, among others, in Australian Journal of Environmental Sciences; Australian Journal of Politics and History; Journal of Negro History; Canadian Journal of African Studies; he has published fourteen books in areas such as ethnicity, nation-building and social problems. His current research interests are ethnicity, globalization and problems of developing nations. In 1979 he won a grand prize in a world-wide Soviet competition. An Indian in origin, he obtained US citizenship on the category of “Person of Exceptional Ability.” He lives in Ohio permanently with wife and two children.

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