Essential Conditions for Globalisation

In order to smoothen the process of globalisation, the following are necessary :

• Removal of quotas and tariffs.
• Liberalisation of Government rules and regulations.
• Freedom to business and industry.
• Removal of bureaucratic formalities and procedures.
• Adequate infrastructure.
• Competition on the basis of quality, price, delivery and customer service.
• Autonomy to public sector undertakings.
• Incentives for research and development.
• Administrative and Government support to industry.
• Development of money markets and capital markets.