Interdisciplinary

project
BY - Alok, Aditi, Khyati, Nandish & Yoshita
01
WORLD WAR II
World War II or the Second World War, often
abbreviated as WWII or WW2, was a global conflict
that lasted from 1939 to 1945. The vast majority of the
world’s countries, including all of the great powers,
fought as part of two opposing military alliances: the
Allies and the Axis. Many participants threw their
economic, industrial, and scientific capabilities behind
this total war, blurring the distinction between civilian
and military resources. Aircraft played a major role,
enabling the strategic bombing of population centres
and the delivery of the only two nuclear weapons ever
used in war. World War II was by far the deadliest
conflict in history, resulting in an estimated 70 to
85 million fatalities, mostly among civilians. Tens
of millions died due to genocides (including the
Holocaust), starvation, massacres, and disease. In
the wake of Axis defeat, Germany, Austria and
Japan were occupied, and war crimes tribunals
were conducted against German and Japanese
leaders.
AFTERMATH OF THE WORLD WAR 2
The aftermath of World War II was marked by significant changes on the global stage:

● Rise of Superpowers: Two global superpowers, the Soviet Union (USSR) and the United States (US), rose in the
aftermath of World War II.
● Nuclear Threat: The war’s aftermath was also defined by the rising threat of nuclear warfare.
● United Nations: The Allies created the United Nations, an organization for international cooperation and diplomacy,
similar to the League of Nations.
● Decolonization: There was decolonization of Asia and Africa by European and east Asian powers, most notably by
the United Kingdom, France, and Japan.
● Cold War: Once allies during World War II, the United States and the Soviet Union became competitors on the world
stage and engaged in the Cold War.
● Rebuilding through Marshall Plan: Western Europe and Asia were rebuilt through the American Marshall Plan.
● Division of Europe: Europe was divided into a US-led Western Bloc and a USSR-led Eastern Bloc.
● Nuclear Arms Race: The war also saw a nuclear arms race between the two superpower.
 IMPACT OF THE WORLD WAR ON
GLOBAL ECONOMY
World War II had a profound impact on the global economy;

● Shift in Economic Power: The economic balance of power shifted in favor of the United States, which emerged much richer than
any other nation and dominated the world economy.
● Reconstruction and Growth: Post-WWII was a time for moving from the industry of creation for the purpose of destruction and
into the industry of creation for creation’s sake. This resulted in an attitude of exploring new technologies and business models
previously unheard of.
● GDP Growth: In the second half of the 20th century, GDP per capita in Europe tripled following the war. Even during wartime,
American output steadily grew, as the physical damage done to the country was limited.
● Rebuilding Infrastructure: Many countries in Europe suffered extensive damage to buildings and infrastructure, so the end of
the war was a time for intensive rehabilitation.
● Technological Advancements: The end of World War II marked the beginning of a period of expansive growth for Europe and
other nations. For the second half of the 20th century, the United States, Europe, and Japan experienced amazing gains.
● Financial Challenges: By 1945, exhausted countries faced severe economic problems that frustrated reconstruction efforts:
Inflation, Debt (mostly owed to the United States), Trade deficits, Balance of payments deficits.
 THE GREAT
DEPRESSION
The Great Depression was a severe worldwide economic downturn
that began in 1929 and lasted until about 1939. It was the longest and
most severe depression ever experienced by the industrialized Western
world. The Great Depression started with the U.S. stock market crash
in October 1929, and it was marked by steep declines in industrial
production, deflation, mass unemployment, banking panics, and sharp
increases in rates of poverty and homelessness.

The causes of the Great Depression included slowing consumer

demand, mounting consumer debt, decreased industrial production,
and the rapid expansion of the U.S. stock market. When the stock
market crashed in October 1929, it triggered a crisis in the international
economy. A rash of bank failures followed in 1930, and as the Dust
Bowl increased the number of farm foreclosures, unemployment topped
20 percent by 1933.

Presidents Herbert Hoover and Franklin D. Roosevelt tried to stimulate

the economy with a range of incentives including Roosevelt’s New Deal
programs, but ultimately it took the manufacturing production increases
of World War II to end the Great Depression.
CAUSES
The Great Depression was caused by a combination of factors:

1. Stock Market Crash of 1929: The U.S. stock market crash in October 1929 started the Great Depression. Many
investors lost their life savings when the stock market crashed, leading to a decrease in consumer spending and
investment.
2. Bank Failures: In the early 1930s, many banks failed, leading to a loss of savings for many individuals. This further
decreased consumer spending and led to deflation.
3. Decrease in Purchasing Across the Board: With the stock market crash and the fears of further economic woes,
individuals from all classes stopped purchasing items. This then led to a reduction in the number of items produced
and thus a reduction in the workforce.
4. American Economic Policy with Europe: The U.S. had a high tariff policy in the 1930s which cut down
international trade. As a result, many European countries were unable to pay off their war debts, which further
strained the U.S. economy.
5. Drought Conditions: The Dust Bowl, a severe drought that hit the U.S. plains states in the 1930s, made conditions
worse. Many farms went under after their fields turned to dust and were blown away.

These factors led to a drastic decrease in consumer confidence and spending, which had a domino effect on the rest of the
economy.
CONSEQUENCES
The Great Depression had profound effects on both the U.S. and the world economy. Here are some of the key
consequences:

1. Economic Impact: The U.S. economy was devastated. A third of all banks failed. Unemployment rose to 25%,
and homelessness increased. Housing prices plummeted, international trade collapsed, and deflation soared. The
economy shrank by 50% during the first five years of the depression.
2. Political Impact: The Depression shook confidence in unfettered capitalism. People voted for President Franklin
D. Roosevelt (FDR), whose Keynesian economics promised that government spending would end the Depression.
3. Social Impact: The Depression led to extreme human suffering and profound changes in economic policy.
4. Global Impact: Although it originated in the United States, the Great Depression caused drastic declines in output,
severe unemployment, and acute deflation in almost every country of the world.
5. Long-term Changes: The New Deal programs installed safeguards to make it less likely that a depression could
happen again. The New Deal and spending for World War II shifted the economy from a pure free market to a
mixed economy, depending more on government spending for its success.

It took 25 years for the stock market to recover from the Great Depression.
ROLE OF MASS PRODUCTION AND
CONSUMPTION
Mass production and consumption played a significant role in the Great Depression, exacerbating the economic downturn.

● Rise of Mass Production: Mass production, characterized by the efficient production of goods in large quantities, had
been a hallmark of the 1920s. It led to increased productivity, lowered costs, and allowed for the production of more goods
than ever before. However, this rapid expansion of production had its consequences.
● Overproduction and Surplus: The mass production techniques led to a surplus of goods on the market. As companies
produced more and more, they struggled to find enough buyers to match the supply. This resulted in a build-up of
inventories and a decline in prices.
● Decline in Consumer Demand: Despite the growth in production, wages did not keep pace with the expanding supply of
goods. This meant that many consumers could not afford to purchase the goods being produced. As a result, consumer
demand began to decline, leading to a decrease in sales and further exacerbating the economic downturn.
● Stock Market Crash: The overproduction and surplus of goods eventually caught up with the stock market. In October
1929, the stock market crashed, leading to a loss of confidence and a sharp decline in consumer spending. This event
marked the beginning of the Great Depression.
● Business Failures: As consumer demand plummeted, businesses faced a severe decline in sales and revenue. Many
companies were unable to sustain themselves and were forced to lay off workers or shut down entirely. This led to mass
unemployment and further dampened consumer spending.
● Bank Failures: The economic downturn resulted in a wave of bank failures. As businesses and individuals defaulted on
their loans, banks were unable to recover their money. This created a panic among depositors, causing them to rush to
withdraw their savings. The collapse of numerous banks further deepened the economic crisis.
● Vicious Cycle: The combination of overproduction, declining consumer demand, business failures, and bank failures
created a vicious cycle that perpetuated the Great Depression. The lack of consumer spending led to more business
failures and job losses, which, in turn, reduced consumer purchasing power even further.
 INDIA’S ECONOMIC CONDITION
During the Great Depression, India was under British colonial rule and experienced a period of economic depression. A
global financial crisis, combined with protectionist policies adopted by the colonial government, resulted in a rapid increase in
the price of commodities in British India. From 1929 to 1937, exports and imports in India fell drastically, crippling seaborne
international trade. The Indian railway and agricultural sectors were the most affected by the depression.

Farmers who were cultivating food crops had earlier moved over to cash crops. This change was fostered by the colonial
government in order to provide material for the textile mills in England. However, as international prices crashed, prices in
India also plunged. Between 1928 and 1934, wheat prices in India fell by 50 percent. Peasants and farmers suffered more
than urban dwellers.

The Great Depression also led to social unrest. Discontent from farmers resulted in riots and rebellions against colonial rule,
while increasing Indian nationalism led to the Salt Satyagraha of 1930, in which Mahatma Gandhi undertook marches to the
sea to protest against the British salt tax.

The extent to which the Great Depression affected the Indian economy has been fiercely contested, with some historians
arguing that the economic depression slowed long-term industrial development in India. However, revisionist scholars have
argued that depression had only a small impact on India’s modern secondary sector, as in terms of output, there was no
depression in India between 1929 and 1934.
 PRESENT ECONOMIC CONDITION
OF INDIA AND THE USA
During the Great Depression, India was under British colonial rule and experienced a period of economic depression. A global
financial crisis, combined with protectionist policies adopted by the colonial government, resulted in a rapid increase in the price
of commodities in British India. From 1929 to 1937, exports and imports in India fell drastically, crippling seaborne international
trade. The Indian railway and agricultural sectors were the most affected by the depression.

Farmers who were cultivating food crops had earlier moved over to cash crops. This change was fostered by the colonial
government in order to provide material for the textile mills in England. However, as international prices crashed, prices in India
also plunged. Between 1928 and 1934, wheat prices in India fell by 50 percent. Peasants and farmers suffered more than urban
dwellers.

The Great Depression also led to social unrest. Discontent from farmers resulted in riots and rebellions against colonial rule,
while increasing Indian nationalism led to the Salt Satyagraha of 1930, in which Mahatma Gandhi undertook marches to the sea
to protest against the British salt tax.

The extent to which the Great Depression affected the Indian economy has been fiercely contested, with some historians
arguing that the economic depression slowed long-term industrial development in India. However, revisionist scholars have
argued that depression had only a small impact on India’s modern secondary sector, as in terms of output, there was no
depression in India between 1929 and 1934.
PROCESS OF HOW ECONOMIES WERE
REBUILT AND HOW THE COUNTRIES
GOT INTERLINKED
The process of rebuilding economies and interlinking production across countries during and after the Great Depression
involved several key steps:

Monetary Expansion and Currency Devaluations: Currency devaluations and monetary expansion were the leading
sources of recovery throughout the world. Countries moved away from the gold standard, which allowed them to inflate
their currencies and stimulate their economies.

New Deal Programs: In the United States, President Franklin D. Roosevelt introduced the New Deal, a series of
programs, public work projects, financial reforms, and regulations. These measures aimed to provide relief for the
unemployed and poor, recovery of the economy back to normal levels, and reform of the financial system to prevent a
repeat depression.

Industrialization: Some countries, like the Soviet Union, were able to grow their industrial production significantly during
this period due to their isolation from the capitalist system.
Bretton Woods Agreement: One of the most important steps in rebuilding the world economy and interlinking
production across countries after the Great Depression was the signing of the Bretton Woods Agreement in 1944. This
agreement established a new international monetary system with exchange rates linked to gold but allowed for
adjustments to a country’s currency value to correct a trade imbalance.

Rise of Multinational Corporations (MNCs): MNCs began to interlink production across countries, setting up their
production in places that yielded maximum output and profit. This led to an increase in international trade and economic
interdependence.
 POST WAR RECOVERY EFFORTS AND
THEIR IMPACT ON GLOBAL ECONOMY
Post-war recovery efforts have had a significant impact on the global economy. Here are some key points:

1. Post-War Reconstruction and Development: Post-war reconstruction and development in the Golden Age of
Capitalism recognized the need for coordinated international action to accelerate economic growth, facilitate the
cross-border flow of goods and services, and support effective utilization of resources in the context of an expanding
and integrated world economy. The expansion of international trade and a functioning payments system were
recognized as two critical factors for development in the post-Second World War period.
2. International Solidarity: International solidarity has played an important role in development and reconstruction.
Western European countries received resources equivalent to 1 per cent of the gross national product of the United
States of America in the period from 1948 to 1952 through the Marshall Plan. Generous financial support and flexibility
in the enforcement of international commitments assisted in the recovery of financial stability and facilitated a more
efficient allocation of resources and a more rapid liberalization of trade.
3. Post-Conflict Economic Reconstruction: Post-conflict reconstruction aims at the consolidation of peace and security
and the attainment of sustainable socio-economic development in a war-shattered country. The economic dimension of
post-conflict reconstruction usually involves tasks such as distribution of relief assistance, restoration of physical
infrastructure and facilities, reestablishment of social services, creation of appropriate conditions for the private sector
development, and implementation of essential structural reforms for macroeconomic stability and sustainable growth.
 1. h
2. h
3. h
4. Impact on Global Economy: Beyond the immediate humanitarian impacts, wars can severely set back the global
recovery, slowing growth and increasing inflation even further. As most countries experience increased growth after the
end of the war, external aid helps them to make the most of this peace dividend; however, aid is only growth enhancing
when the violence has stopped.

In summary, post-war recovery efforts have played a crucial role in reshaping economies, promoting growth, and fostering
global integration. However, they also underscore the importance of peace and stability for sustainable economic development
ROLE OF BRETTON WOODS
INSTITUTIONS IN REBUILDING WORLD
ECONOMY
The Bretton Woods Institutions, namely the World Bank and the International Monetary Fund (IMF), played a significant role in
rebuilding the world economy after World War II. Here are some key points:

1. Establishment: The Bretton Woods Institutions were set up at a meeting of 43 countries in Bretton Woods, New Hampshire,
USA in July 1944. Their aims were to help rebuild the shattered postwar economy and to promote international economic
cooperation.
2. International Monetary System: The Bretton Woods system was established to facilitate international trade while protecting
the autonomous policy goals of individual nations. Member nations would peg their currencies to the U.S. dollar, and the U.S.
would peg the dollar to gold, at a price of $35 an ounce.
3. Institutions: To ensure compliance with the new rules, two international institutions were created: the International Monetary
Fund (IMF) and the International Bank for Reconstruction and Development (IBRD; later known as the World Bank).
4. Impact on Global Economy: The Bretton Woods system appears to have lessened investment flows to Europe after World
War II, slowing the region’s pace of reconstruction. However, it also ushered in a new international monetary order that we’re
still living with today.

In summary, the Bretton Woods Institutions played a crucial role in stabilizing economies, promoting growth, and fostering global
integration in the post-war period.
EARLY POST WAR YEARS
~Role of major ports in imports and exports

Major ports play a crucial role in imports and exports, serving as the primary points of entry and exit for goods. Here are some key
roles they play:

1. Gateway for International Trade: Major ports act as gateways connecting countries and regions, enabling the movement
of goods between different nations. They serve as entry points for imports and exit points for exports, providing access to
global markets.
2. Infrastructure: Major ports offer the necessary infrastructure, such as ports, berths, and cargo handling facilities, to
manage large amounts of cargoes.
3. Economic Impact: Ports are an important part of Infrastructure that help in the successful import and export of Goods. In
terms of volume and value, ports handle nearly 95% and 70%, respectively, of India’s exports.
4. Government Support: The Indian government is an important supporter of the port industry’s development. It has created
an automatic path to 100% FDI for port and harbour construction and maintenance projects4.
~How the emergence of Deccan airways changed the entire
functionalities of domestic airways
1. Development of Low-Cost Carriers: Deccan Airways was a pioneer in the development of low-cost carriers (LCCs) in
India. They made air travel accessible to a wider range of people by providing affordable options. This transformed
domestic aviation.
2. Enhanced Connectivity: Deccan Airways focused on connecting tier 2 and tier 3 locations, which were previously
underserved by major airlines. They improved air connectivity and made it easier for customers to travel within the
country by introducing new routes and expanding their network to smaller cities.
3. Competitive Fares: Deccan Airways implemented a dynamic pricing strategy and offered competitive fares that were
significantly cheaper than those of traditional carriers. As a result, other airlines were forced to adjust their pricing
policies to remain competitive.
4. Simplified Operations: Deccan Airways employed efficient operating procedures to reduce costs and increase
efficiency. Quick turnaround times, optimal aircraft utilization, and lean management practices were all part of this
approach.
5. Customer-Centric Approach: Deccan Airways prioritized the needs of its customers by providing reliable service and
simplifying the booking process. Thanks to the company’s focus on passenger convenience and the introduction of
user-friendly online booking tools, customers could now plan and book their flights more easily.

The success of Deccan Airways paved the way for other low-cost carriers in the Indian aviation industry, leading to increased
competition, improved connectivity, and affordable air travel options for passengers across the country.
~The waterways and airways contribution to the
economic growth of india.
Waterways:

● The National Waterways Act 2016 declared 111 rivers or river stretches, creeks, estuaries in India as National Waterways.
● The national waterways project aims to create large-scale, commercial shipping and navigation systems in all these 111
waterways.
● These waterways are expected to realize the potential of cargo and passenger traffic, including tourism and cruise, offer
seamless connectivity at lower per-unit cost and make transportation more efficient.
● The project would generate a series of forward and backward linkages with prospects to penetrate deep into the economy.
● Currently, coastal and inland waterways contribute 6% of the country’s freight modal mix.

Airways:

● The aviation sector in India currently contributes $72 billion to GDP.

● In the fiscal year 2021, India’s air traffic stood at approx 115.37 million.
● The air transport industry, including airlines and its supply chain, are estimated to support US $13 billion of GDP in India.
● Spending by foreign tourists supports a further US $22 billion of the country’s GDP, totaling to US $35 billion.
● Already, aviation supports 7.5 million Indian jobs and INR 30 billion of GDP (1.5% of the economy).

These contributions highlight the significant role that both waterways and airways play in bolstering India’s economy. They not only
facilitate trade and transportation but also generate employment, promote tourism, and contribute to the country’s GDP.
 CHALLENGES FACED BY THE WORLD
IN EARLY POST WAR YEARS
1. Economic Challenges: The Bretton Wood system inaugurated an era of unprecedented growth of trade and incomes for
the Western industrial nations and Japan. However, developing countries were in a hurry to catch up with the advanced
industrial countries. They invested vast amounts of capital, importing industrial plant and equipment featuring modern
technology. But most developing countries did not benefit from the fast growth the Western economies experienced in
the 1950s and 1960s.
2. Decolonization and Independence: Over the next two decades of the Second World War, most colonies in Asia and
Africa emerged as free, independent nations. They were overburdened by poverty and a lack of resources, and their
economies and societies were handicapped by long periods of colonial rule.
3. Control Over Resources: As newly independent countries came under the guidance of international agencies
dominated by the former colonial powers, these powers controlled vital resources such as minerals and land in many of
their former colonies.
4. Debt Crises: Earlier, developing countries could turn to international institutions for loans and development assistance.
But they were forced to borrow from Western commercial banks and private lending institutions. This led to periodic debt
crises in the developing world, and lower incomes and increased poverty, especially in Africa and Latin America.
5. Unemployment: The industrial world was also hit by unemployment that began rising from the mid-1970s and remained
high until the early 1990s.

These challenges had profound impacts on the global economy and shaped the course of history in many ways.
EFFORTS MADE TOWARDS DECOLONIZATION
AND INDEPENDENCE OF THE NATION
Efforts towards decolonization and independence of nations were made on multiple fronts:

1. Right to Self-Determination: The very core of decolonization is the right to self-determination as a fundamental right
identified by the United Nations. This paved the way for independence along with other methods of decolonization.
2. Nationalist Movements: The rise of nationalist movements in Africa and Asia significantly drove the process of
decolonization. These movements, often led by individuals educated in Western institutions, sought to reclaim sovereignty
and reshape national identity.
3. International Pressure: The founding of the United Nations in 1945 gave newly independent countries a forum to raise
global support for decolonization around the world. In 1960, a bloc of African and Asian nations organized a resolution
calling for the “complete independence and freedom” of all colonial territories.
4. Decolonization Resolutions: The United Nations adopted resolution 43/47 in 1988 declaring the period 1990 to 2000 the
International Decade for the Eradication of Colonialism and adopted a plan of action to accelerate the implementation of
the 1960 Declaration on Decolonization.
5. End of World War II: The devastation following World War II led colonial powers to begin taking steps towards
decolonization. As they had other priorities such as rebuilding their own countries, there was little finance or enthusiasm for
military action to hold onto overseas territories against their will.
IMPACT OF BRETTON WOODS INSTITUTIONS
IN THE POST WAR ECONOMY
The Bretton Woods institutions had a significant impact on the post-war economy.
1. Reconstruction and Stability: The Bretton Woods system was established to reconstruct the international
financial system after World War II. Countries fixed their exchange rates to the U.S. dollar, and the U.S. pegged
the dollar to gold. This system was designed to prevent any government from doing voluntary devaluations.

Impact on Global Economy: The Bretton Woods system affected capital flows and the global economy. Although
productivity was growing faster in Europe than in the U.S., Europe did not benefit as much from international
capital flows as one would have expected. Europe self-funded its reconstruction.

Expansion of International Trade and Investment: The Bretton Woods system led to a significant expansion of
international trade and investment. Between 1950 and 1970, world trade grew annually at 8%, and incomes grew
at nearly 5%.

Creation of International Institutions: To ensure compliance with the new rules, two international institutions
were created: the International Monetary Fund (IMF) and the International Bank for Reconstruction and
Development (IBRD; later known as the World Bank).
SUPPORT RENDERED BY THE WORLD TRADE
ORGANIZATION IN BUILDING NEW NATIONS
Trade and Development: The WTO acknowledges that more open trade can boost economic growth and help countries
develop. It provides opportunities for developing countries to participate in global trade.

Special Provisions for Developing Countries: All WTO agreements contain special provisions for developing countries,
including longer periods to implement agreements and commitments, measures to increase their trading opportunities, and
support to help them build the infrastructure for WTO work, handle disputes, and implement technical standards.

Aid for Trade: The WTO coordinates the Aid for Trade programme, which aims at enhancing the capacity of developing
countries to participate more effectively in the global marketplace. Donor countries have committed an average of $40
billion a year to trade-related development programmes.

Capacity Building: The WTO runs special programs to support developing countries by helping them build the capacity to
participate in free trade with more developed countries. It also gives concessions under certain agreements to
low-development countries to ease them into free trade with other countries.

Technical Assistance and Training: The WTO provides technical assistance and training, promotes capacity-building,
and ensures that developing countries are able to participate fully in the WTO’s decision-making processes.
END OF BRETTON WOODS AND THE
BEGINNING OF GLOBALIZATION

After the Bretton Woods system ended in the early 1970s, the world economy underwent a significant transformation that led to the
beginning of globalization. The US dollar, which had been the dominant currency for more than two decades, lost its value in relation
to gold and no longer commanded confidence as the world’s principal currency. This led to the collapse of the system of fixed
exchange rates and the introduction of a system of floating exchange rates. From the mid-1970s, developing countries were forced
to borrow from Western commercial banks and private lending institutions, leading to periodic debt crises in the developing world
and lower incomes and increased poverty, especially in Africa and Latin America. The industrial world was also hit by unemployment
that began rising from the mid-1970s and remained high until the early 1990s. From the late 1970s, multinational corporations
began to shift production operations to low-wage Asian countries. New economic policies in China and the collapse of Soviet-style
communism in Eastern Europe brought many countries back into the fold of the world economy. Wages were relatively low in
countries like China, making them attractive destinations for investment by foreign multinational corporations competing to capture
world markets. The relocation of industry to low-wage countries stimulated world trade and capital flows. Countries such as India,
China, and Brazil have undergone rapid economic transformation 12345.
 IMPACT OF GLOBALIZATION IN INDIA
Globalization has had a significant impact on India’s economy, culture, and society. It has led to greater economic
liberalization, increased foreign trade and investment, and the growth of multinational corporations in India . The 1991
reforms in India have led to greater economic liberalization which has in turn increased India’s interaction with the rest of
the world . Improved transport, making global travel easier, has also facilitated globalization. The rise of the World Trade
Organization (WTO) in 1994 led to a reduction in tariffs and non-tariff barriers across the world, which also contributed to
globalization .

The impact of globalization on India’s economy has been both positive and negative. On the positive side, it has led to an increase in
foreign investment in India’s corporate, retail, and scientific sectors . It has also led to an increase in international trade relations,
technology and communication, and corporate expansion . On the negative side, globalization has led to job losses in some sectors
due to increased competition from foreign companies . It has also led to a widening income gap between the rich and poor .

Globalization has also had an impact on Indian society and culture. It has led to the internationalization of food habits, dress habits,
lifestyle, and views . However, it has also led to a loss of traditional values and cultural identity .

Overall, globalization has had a profound impact on India’s economy and society. While it has brought many benefits such as
increased foreign investment and international trade relations, it has also brought challenges such as job losses and cultural erosion.
ROLE OF WATERWAYS AND AIRWAYS IN THE
ACHIEVEMENT OF INDIA IN GLOBALISATION
Waterways and airways play a significant role in achieving globalization in India. They connect India to the rest of the world and
facilitate the movement of goods and people across borders. Here are some ways in which waterways and airways connect India to
the world:

Waterways:

● Around 95% of India’s trading by volume and 70% by value is done through maritime transport.
● India has 12 major and 205 notified minor and intermediate ports.
● Under the National Perspective Plan for Sagarmala, six new mega ports will be developed in the country.
● As per the National Waterways Act, 2016, 111 waterways have been declared as National Waterways.
● Waterways are most suitable for carrying bulky and heavy goods. They are fuel-efficient and also an environmentally friendly
mode of transportation.

Airways:

● Air transport has always been seen to have an inherently strategic role.
● Globalization has branded India by increasing its usage rate and popularity.
● India has a vast network of airports, connecting it to the rest of the world.
● Air transport is the fastest mode of transportation and is suitable for carrying high-value and time-sensitive goods.
THANKYOU!