Indian society is divided into various castes, sub castes, categories and very few castes- category have production resources that belongs to high castes. They are running the business and gets benefits from liberalizations, privatization and globalization. Before liberalizations, privatization and globalization, we accepted mixed economy for capitalism and socialism but emphasis was on socialism. The separate economic processes, that is commonly called globalization include expansion of international trade in goods, services, industries, free flow of technology, enhanced flow of foreign direct investment, free movement of persons across national boundaries, and development of international institutions of governance. The services of globalization affect virtually every country in the world. All shares of life - economic, social, cultural, industrial and political have been subjected to both positive and negative elements.
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