export position of Rs 270 crore in 1991-92 to a net import position of Rs 1,587 crore in 1995-96. As a result of globalisation industrialised states are getting more benefit as compared to that of less industrialised and agriculturally based states leading to a geographical skewed pattern of growth attained during this post-globalisation period. In this regard it has been argued that globalization would attract Direct Foreign Investment (FDI) and international aid to the Third World. As well as make choices. Cost effectiveness and price reduction of manufactured commodities will improve the terms of trade in favour of agriculture. Arls, 2013) The World Bank and International Monetary Fund have continued to encourage. The share of merchandise trade to GDP increased considerable to over 35 per cent in 2007-08 from.7 per cent recorded in 2003-04. The Challenges of Globalization in Africa What Role for Civil Society and Other Stakeholders?" Addis Ababa.
Such a situation is mostly resulted from the deceleration in employment growth rates in agriculture and community and personal services. The capability of Indian Software Industry is reflected in the very high capitalisation with a Market Cap of listed Software Companies in India estimated at US 55 billion as on 30th June 2000. This would, however, require the exports to grow at the rate of 18 per cent per annum. In this connection, Romesh Diwan observed, Capitals need is to move towards exploitable resources now available in materially poor countries. Ordas on the impact on globalization. It also established coordination among the national economy and world economy. A global culture that is, more or less a kaleidoscope of trans-national socio-cultural characterisation. Moreover, globalisation has also resulted in a significant rise in rural-urban inequalities throughout the country and a sharp increase in the differences in wage/salary incomes between the urban and the rural sector.