The perception that globalisation had set in only two decades ago was flawed, said Pulapre Balakrishnan, Director of Centre for Development Studies, Thiruvananthapuram.
Globalisation had been a continuous process and not something that could be inducted at a specific period, he said.
He was delivering a lecture on ‘Some globalisation claims: two decades on' at Maharaja's College here on Friday.
The country needed to learn the lessons of globalisation. It would be a challenge to ensure inclusive growth, he said. Several reasons could be attributed to the rise of corporates and the weakening of nation states which culminated in rapid economic changes globally. While the distance between countries came down in terms of economic parameters, cultural homogenisation was not taking place. Whether the transformation of economy meant transformation of the lives of people remained a crucial question.
Competitiveness attained focus in the wake of emergence of global markets and establishment of new manufacturing hubs. Corporate entities trying to woo governments and equity markets exerting influence on governments were part of the emerging scenario. Instances of corporate projects displacing tribal settlements indicated the overriding of the goals of civil society.
In the Indian context, the performance of the agricultural sector needed to be examined against the celebrated growth of services sector. Pointing out instances of a government agency intended to protect the interests of Adivasis playing a role in alienation of their land, he said globalisation might not always contribute to social capital.
Efforts aimed at generating employment opportunities and focusing on export failed short of attaining inclusive growth. Initiatives for providing education and skill training to rural masses would help restrain migration to urban areas and stabilise the economy.
It is a challenge to ensure inclusive growth, scholar P. Balakrishnan says.