i) The benefits of globalization extend to all countries that will not happen automatically.
ii) The fear that globalization leads to instability in the developing world.
iii) The industrial world that increased global competition will lead in race to the bottom in wages, labour right and employment practice.
iv) It leads to global imbalance.
v) Globalization has resulted with the embarrassment
vi) Globalization has led to an increase in activities such as child labour and slavery.
vii) Consumption of more junk food that led to the degradation of health and spread of disease.
viii) Globalization has led to environmental degradation

i) The Final Act of the Uruguay Round was signed by the member nations of GATT in April 1994. It paved the way for setting up of the World Trade Organisation
ii) An agreement to this effect was signed by 104 countries. This WTO  Agreement came into force on January 1, 1995
iii) Its headquarters is in Geneva, Switzerland.
iv) Its purpose is Regulation and International Trade.
v) Its members are Director General, Four Deputy Director Generals and other 600 official staff
Objectives of WTO:
i) To set and enforce rules for international trade.
ii) To provide a forum for negotiating and monitoring further trade liberalization
iii) To resolve trade disputes.
iv) Introduction of sustainable development and environment can go together.
v) To ensure that developing countries secure a better share of growth in world trade
vi) To increase the transparency of decision making processes.
vii) To ensure full employment and broad increase in effective demand.

Southern Indian trade guilds were formed by merchants in order to organize and expand their trading activities. Trade guilds become channels through which Indian culture was exported to other lands.
Early traders:
i) Kalinga traders traded with Southeast Asia at an early date.
ii) They traded in red coloured stones and cotton textiles.
European Traders in South India:
The trading activities of the various European companies which came to India during this period.
The Discovery of a new all-sea route from Europe to India Via cape of Good Hope by Vasco do Gama
had for reaching repercussions on the civilized world
The Portuguese:
i) Vasco da Gama landed at Calicut on the May 1498.
ii) The second visit of, Vasco da Gama led to the establishment of trading stations at Calicut, Cochin and Cannanore.
iii) Cochin was the early capital of the Portuguese in India.
The Dutch :
(i) The Dutch East India Company was formed in 1602.
ii) They established trading centres at Masulipatnam, Pettapoli, Devanampatinam and Pulicat.
iii) Pulicat was their headquarters.
The British :
(i) The English East India Company was established in 1600.
ii) They established trading centres at Masulipatnam and Pulicat.
iii) By the grant of "Golden Fireman" they were allowed to trade freely in their ports.
iv) In 1639 they built Fort St. George in Madras. It became their headquarters.
The Danes:
(i) The Danish East India Company arrived at India in 1616.
ii) Tranquebar was their headquarters.
iii) They failed to strengthen themselves and in 1845 they left India.
The French:
(i) The first French factory was established in 1668.
ii) The Dutch captured Pondicherry but was handed back to the French.
iii) In 1701, Pondicherry was the headquarters of the French

Evolution of MNC:
i) Like, the East India Company, which came to India as a trading company and then its net throughout the country to become politically dominant, these multinationals first start their activities in extractive industries or control raw materials in the host countries during 1920s and then slowly entered.
ii) In to the manufacturing and service sectors after 1950s. Most of the MNC's at present belong to the four major exporting countries viz., USA, UK, France, Germany. However, the largest is American. 11 of the 15 largest multinationals are Americans.
iii) Multi National Corporation (MNC) is a corporate organization which owns or controls production of goods or services in at least one country other than its home country.
Advantages of MNC:
i) Producing the same quality of goods at lower cost and without transaction cost
ii) MNC reduce prices and increase the purchasing power of consumers world wide.
iii) MNC is able to take advantage of tax variation.
iv) Spurring job growth in the local economies
Disadvantages of MNC:
i) MNCs are a way for the corporations to develop a monopoly for certain products.
ii) They are also a detrimental effect on the environment.
iii) The introduction of MNC may lead to the downfall of smaller, local business.
iv) MNC breach ethical standards, accusing them of evading ethical laws and leveraging their business agenda with capital.

The term of 'Globalization' was introduced by Prof. Theodore Levitt. Globalization is the integration of Accountry with the world economy. Basically, globalization signifies a process of internationalization plus liberalization. The history of globalization can be discussed on three stages.
Archaic Globalization:
i) During the Hellenistic age an early form of globalization existed. It was known as Archaic globalization.
ii) The trade link between Roman empire, Parthian empire and Han dynasty made commercial links between these powers and inspired the development of the Silk Road.
iii) The Islamic age and the advent of Mongol empire facilitated travel along silk road. This pre-modern phase is known as archaic globalization.
Proto Globalization:
i) This phase was characterized by rise of maritime European empires like the Portuguese, the Spanish, the Dutch and the British empires.
ii) Globalization became private business phenomenon.
iii) The English East India Company was the first multinational company followed by the Dutch East India Company.
Modern Globalization:
i) The 19^th century witnessed the advent of Globalization approaching its modern form.
ii) The global trade in the 20" century shows a higher share of trade in merchant production, a growth of the trade in services and the rise of production and trade by multinational firms.