• Udaya Shankara H,

Globalization has a wide range of consequences for a country's economy. Interdependence and rivalry between countries on the international market have increased as a result of globalization. Interdependence reflects this in terms of trade in products and services, as well as capital mobility. As a result, domestic economic trends are influenced by factors other than the domestic market and economic circumstances. Domestic and foreign policies, as well as economic situations, have an impact on them. As a result, a globalizing industry cannot manage to disregard the potential actions and responses of policies and events in the entire world while creating and assessing its domestic policy. This limited the government's policy options, implying a degree of policy independence in objective evaluation. Globalization is held responsible for unemployment, cultural degradation, and difficulties of competition. The lives of the educated and the rich have been enriched by globalization. But the benefits have not yet reached the majority and the new risks have cropped up for the losers, the socially deprived, and the rural poor. Western perceptions which dominated the global media, are not aligned with local perspectives, they encouraged consumerism amid extreme poverty and posed a threat to cultural and linguistic diversity. Globalization can be viewed as the integration of inputs and outputs into global markets, the sharing of information and knowledge, and the promulgation of rules governing such integration

Globalization, Urban Economy, Economic Reforms, Innovative Products, Free Trade Zones.

"GLOBALIZATION AND GLOBAL CHANGING SCENARIO", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.3, Issue 11, page no.585-589, November-2016, Available :http://www.jetir.org/papers/JETIR1701B89.pdf

"GLOBALIZATION AND GLOBAL CHANGING SCENARIO", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.3, Issue 11, page no. pp585-589, November-2016, Available at : http://www.jetir.org/papers/JETIR1701B89.pdf