Globalisation and India's liberalisation

The concept of nation state is rooted in the 18th century institution. Similarly a corpora tion is expected to be controlled in the institu tional framework which is altering the rela tionship between nations. Concurrently, fast changes in science and technology has an im pact on the nature of multinational corpora tions. The role of governments and corpora tion in modern economic relations are evolv ing into mutual dependence instead of having independent regimes. The present interna tional order is changing the concept of sovereignity of nations and also hierarchical control of international business by the corpo rations.

The present book has three parts: Part A deals with the changing international economic re lationship among countries. There are three aspects, such as multilateralism, regionalism and unilateralism. The multilateralism deals with the negotiations and the institutional framework developed under GATT and UNCTAD. Regionalism is viewed as an alter native to multilateralism. This became promi nent after the success of European Economic Community. Similar attempts are made in creating NAFTA and ASEAN.

Part B deals with the corporations as a corol lary to nations. It gives an overview of transnational corporations and the changing pattern of its operation. The dynamic changes in the world economy is partly dependent on the role of transnational corporations.

Part C takes up the Indian perspective to wards the changing scenario in the global economy. The new economic policy intro duced in 1991 and its effect on foreign invest ments in India are considered. In addition the role of global manager as perceived by the Indian managers is briefly touched upon to bring in focus the new challenges and the pos sible ways of meeting them.