Globalization has changed the way of making business in the whole world. In the process of globalization, countries are integrated through foreign trade and investments. India is a developing country that is growing steadily for last some years. It is 18th largest economy of world according to total GDP but its more than 30% population is living below poverty level. The Govt. of India is taking revolutionary steps to bring positive changes in the economic growth of the country. It has devised new policies and strategies to attract foreign investors in various areas. IT industry is given much importance because it is very useful to meet the latest challenges of globalization. Globalization has many positive and negative effects on culture, society or economy of a country.