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India's ride on wave of globalisation a rocky one

The subcontinent entered the global markets with its 1991 New Economic Policy, which has lifted its GDP, but also widened its income gap.

India is still an agrarian society. The gains from globalisation have not filtered down to the Indians engaged in agriculture; they get subsidised food and job opportunities under government programmes aimed at diffusing the social tension wrought by the widening income gap.


THE British decision to leave the European Union is seen by many as a rejection of globalisation, although the thumbs down was on free movement of labour within the bloc and not on free trade or unrestricted flow of capital within.

At the same time, the world's largest...