To elucidate the relationship between globalisation and new technology in a world of scarce resources, with special reference to India, we need to understand the meaning and implications of each concept.
Globalisation is the process of increasing integration and interdependence of the world's economies, cultures, and societies. Globalisation involves the movement and exchange of goods, services, capital, people, ideas, and information across national borders. Globalisation can have positive and negative effects on various aspects of human development, such as economic growth, social welfare, environmental sustainability, cultural diversity, and political stability.
New technology is the application of scientific knowledge and innovation to create new or improved products, processes, or services. New technology can enhance the productivity, efficiency, quality, and competitiveness of various sectors and industries. New technology can also create new opportunities and challenges for individuals, businesses, and societies. New technology can have positive and negative impacts on various aspects of human development, such as education, health, communication, security, and ethics.
Scarce resources are the limited or insufficient availability of natural or human resources that are essential for meeting the needs and wants of individuals, businesses, and societies. Scarce resources can include land, water, energy, minerals, food, labor, capital, etc. Scarce resources can create problems such as poverty, inequality, conflict, pollution, depletion, etc. Scarce resources can also create incentives for innovation, cooperation, conservation, etc.
In the context of India, globalisation and new technology have a complex and dynamic relationship that affects the allocation and utilization of scarce resources in various ways. Some of the examples are:
Globalisation has increased India's access to foreign markets, capital, technology, and talent. This has enabled India to boost its economic growth, trade, investment, innovation, and competitiveness. However, globalisation has also increased India's exposure to external shocks, risks, and uncertainties. This has created challenges for India's macroeconomic stability, fiscal sustainability, financial security, and social equity.
New technology has enabled India to improve its infrastructure, governance, education, health care, agriculture, manufacturing, services, etc. This has enhanced India's human development outcomes such as poverty reduction, literacy improvement, health improvement etc. However,new technology has also created new problems such as digital divide,digital addiction, cybercrime, cyberwarfare etc.This has raised issues for India's digital inclusion,digital literacy,digital security,and digital ethics.
Scarce resources have constrained India's ability to meet its growing demand for energy, water, food, housing, transportation, etc.This has resulted in environmental degradation, resource depletion, climate change, pollution, etc. However, scarce resources have also motivated India to adopt more efficient, sustainable, and resilient solutions such as renewable energy, water conservation, organic farming, green buildings, public transportation, etc.
Thus, the relationship between globalisation and new technology in a world of scarce resources is not a simple or linear one.It is a complex and dynamic one that involves trade-offs, synergies, opportunities,and challenges for India's development.India needs to balance the benefits and costs of globalisation and new technology,and to manage its scarce resources wisely and responsibly.