This paper will take a close look at the process of globalization and the effects it is having on the Indian economy. It will show that the effects to date have been bitter-sweet. On the one hand, the Indian economy is getting some much needed foreign investment, its traditionally pampered industries are being exposed to a healthy degree of competition, and the overly regulated and efficient administration of the country is being forced to revamp and increase its accountability and transparency. On the other hand, poverty inequality is increasing, which is a major blow given the country's already high degrees of abject poverty. It can also be argued that the country's democracy is being tested to the limit. 15 pgs. 26 f/c. 12b.
