AbstractIndia has undergone a radical metamorphosis over the last century. The transformation from a country under British rule to a global giant in just over 60 years could be considered a global success story. The Indian economy has been experiencing massive growth for around fifteen years. In this essay, I will attempt to highlight the salient features of the economic reforms introduced in India to make this growth possible. I would first like to make a few comments on what globalization is and why it is so important to India. I will also present an assessment of the above-mentioned reforms from an economic and sociological perspective. In the final part of the essay, I will present an expected direction of the economy based on the survey carried out. We will also discuss how global consumer attitudes would affect trends in the Indian economy. Note: The timeline is mentioned next to each subtopic of the essay. Table of contentsSummary 2Table of contents 3Introduction 4What is globalization? 4Why is globalization important for India? 5Body 6Economic reforms introduced for the benefit of India 6Evaluation of the effectiveness of these reforms 6Conclusion 6Evaluation of the effects on the economy in general 6A predicted 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 an essential condition for the survival of almost all national economies. It is the network of interdependence between countries for products, services as well as basic needs. Globalization presents a myriad of advantages as well as disadvantages that we may not yet recognize. I intend to discuss some o...... middle of article...... To end the essay, I will make some comments on the perceived general direction of the national economy on the basis of the study carried out. Mention will be made of promising industrial sectors for the future. I will cite a range of expert comments in this section to be able to gain a broader perspective on the subject.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.