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Note I was a bit unwilling to submit this as it is one of my best works Unrestricted globalization - boon or hazard In 1998 the BJP had led the NDAs electoral campaign with a swadeshi propaganda thrust Many of the NDAs voters had truly believed that unlike the previous regimes the BJP-led government would not succumb to international pressures - particularly US machinations and protect the nations economic and national security interests Finance ministers closely associated with neo-liberal economic programs - like Manmohan Singh and P Chidambaram were defeated in the polls and there was an expectation that there would be a noticeable shift in direction But long-time critics of the BJP had already warned that the BJP was insincere in its commitment to swadeshi and its turnaround in the ENRON case was more likely to serve as a model for its future actions Although neo-liberal forces were kept somewhat at bay in the BJP-led NDAs first term a more comfortable majority in the second round has given the promoters of neo-liberalism in the coalition more confidence that they can get away with unpopular policies without much concern about political stability That every successive administration in the last decade has eventually succumbed to the pressures of globalization suggests that regardless of how different political formations package their policies in advance of the elections there is a powerful and very vocal lobby for globalization in India This is because for some sections of Indian society and the Indian diaspora globalization has come as something of a bonanza NRIs look forward to new business opportunities in a globalized India English-language or even local language media outlets who expect globalization to increase advertizing revenues have also been eager supporters of globalization A recent Economic Times survey of the nations top CEOs indicated that most major India businesses anticipated considerably higher allocations for marketing and advertizing campaigns in order to survive
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