AbstractIndia has seen a drastic metamorphosis over the last century. From being under British rule to being a global giant in just over 60 years could be called a global success story. It has been the last 15-odd years that the Indian economy has grown at a tremendous pace. In this essay I will try to highlight the salient features of the economic reforms introduced in India that have made this growth possible. Let me first make some comments on what globalization is and why it is so important for India. I will also make an evaluation of the above reforms from an economic and sociological point of view. In the last part of the essay I will present a predicted direction of the economy based on the investigation carried out. We will also discuss how global consumer attitudes would influence the trends of the Indian economy. Note: Timeline is mentioned next to each subtopic of the essay. Table of contents Abstract 2 Table of contents 3 Introduction 4 What is globalization? 4Why is globalization important for India? 5Organism 6Economic reforms introduced to benefit India 6Evaluation of the effectiveness of these reforms 6Conclusion 6Evaluation of the effects on the overall economy 6An expected direction for the economy based on the study. 7References 8IntroductionWhat is globalization?(Proposed completion date: May 31, 2008)Globalization is a broad concept. It is mandatory for the survival of almost all national economies. It is the network of interdependence between countries for products, services and primary needs. Globalization has its myriad advantages and disadvantages that we may not yet recognize. I intend to discuss a bit... in the middle of the article ......To conclude the essay I will make some comments on the perceived general direction of the national economy based on the study carried out. Promising industrial sectors for the future will be mentioned. I will cite a number of expert comments in this section in order to gain a broader perspective on the topic. References • Das, Dilip K. Economic Dimensions of Globalization. Gordonsville, VA, USA: Palgrave Macmillan, 2004. p 1 .http://site.ebrary.com/lib/uclan/Doc?id=10076945&ppg=16• Schirato, Tony. Understanding Globalization. London, , GBR: Sage Publications, Incorporated, 2003. p 1.http://site.ebrary.com/lib/uclan/Doc?id=10080853&ppg=5• Bhagwati, Jagdish (2004). In defense of globalization. Oxford, New York: Oxford University Press.• http://www.bimaljalan.com/speech150102.html cited May 13 2008.