WHAT IS GLOBALIZATION? Mr.

Dawood Khan graduated from CECOS a private sector university of Pakistan works in UAE for a German Company financed by China Bank and five American Investor, Audited by Indian CA firm working by an MOU with CPA(USA). He has four colleagues. One belongs to Ghana and the others belong to Moscow, Madagascar and Baghdad. Their boss is from Ukraine having a doctorate from Dundee University of Australia. They all speak English and contact with their families through skype phone. And the most interesting, he has married to a Russian Lady and his company is following US GAAP. Mr. Dawood is a practical Muslim of strong values but his partner is still going to a catholic church, but both are happy in life believe in freedom, democracy and human rights. Above paragraph is nothing except a binary data of the picture of GLOBALIZATION. Remember that this GLOBALIZATION is just a face off of westernization and a true GLOBALIZATION resembles more to KHILAFA which will be a long lasting, ultimate and final. In sum, Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. Current wave of economic globalization is driven by policies that have created business and investment opportunities for international investors in developing economies due to which these countries which were sometime referred as developing countries are now called emerging markets. In the years since the Second World War, and especially during the past two decades, many governments in emerging markets (previously developing countries) have adopted free-market economic systems, vastly increasing their own productive potential and creating many new opportunities for international trade and investment. Governments of emerging markets also have negotiated dramatic reductions in barriers to commerce and have established international agreements to promote trade in goods, services, and investment. Taking advantage of new opportunities in emerging markets, corporations have built foreign factories and established production and marketing arrangements with foreign partners. Thus, here its suitable to say that economic globalization is the mother of emerging markets. INDIA AND GLOBALIZATION