Some Consequences of Globalization on Indian Diaspora

Globalisation is a cherished boon for capitalist society of the West and Far East for its obvious unfettered gains like; (a) Expanded market access to dump the ever-growing output and clear the stock-piles; (b) Emergence of global upper class to afford support to free play of capitalism disregarding national frontiers; (c) Organised free flow of capital round the globe to promote interests of vested capitalists at the cost of the backward and lagging societies; (d) making the fullest use of technology for optimal economic, social and political gains of domination, via MNCs; (e) Globalisation ensures exploiting all resources everywhere to the advantage of those who are technologically and politically better off; (f) Best possible utilization of labour surplus, poverty and low bargaining capacity of resource less, consumer markets, etc. for the gains of developed societies, over the entire future; (g) WTO represents the institutional arrangement whereby the weak, less developed, developing, technologicall lagging societies can be enslaved by their own consent and support of capitalists, local governments and psudo-intellectuals; (h) Globalisation will erode the stability, social ethos, political authority as well as the economies in Developing World under the pretext of competition, cost-competitiveness and efficiency. The economic independence of lagging countries will be snatched and they will be constrained to accept the dictated terms. Where does a competition emerge in trade between two unequal parties; (i) the entire fabric of social-economic management and cultural identities will be dismantled by globalization and supremacy of the strongest will be established. This is why regional groupings like Europeans Union have emerged; Iii) the intellectual property ownership and renting procedures show that in globalization we are heading toward stark slavery.