India, June 17 -- Globalisation is seen as a planetary phenomenon, which has several different aspects including informational, cultural, economic or political. Although considered by some as beneficial, it has been called into question by other analysts for its disastrous effects on developing nations.

The last two decades have seen the world moving towards globalisation of trade, commerce and free-market economy. The academic economists believe that these steps would give a spurt to forces of competitiveness, efficiency which in turn would lead to better job opportunities and generation of wealth and prosperity.

However, one has to take into account not just these benefits but also the overall consequences of globalisation and free pl...