Economic Liberalization:
- Economic liberalization refers to the process of opening up the economy to market forces, reducing government intervention and regulation, and promoting free trade and investment.
- In India, economic liberalization was initiated in 1991 through a series of reforms that aimed to shift from a socialist to a market-oriented economy.
- Economic liberalization has played a significant role in influencing global-local interactions in India.

Impact on Global-Local Interactions:
1. Foreign Direct Investment (FDI):
- Economic liberalization has attracted FDI, which has led to increased global-local interactions in India.
- Multinational corporations (MNCs) have invested in various sectors, bringing advanced technology, managerial expertise, and access to global markets.
- This has led to the transfer of knowledge, skills, and technology, promoting local entrepreneurship and improving productivity.

2. Global Value Chains (GVCs):
- Economic liberalization has integrated Indian industries into global value chains.
- Companies now source inputs from different countries, leading to increased global-local interactions.
- Indian companies have become suppliers to global companies, which has created opportunities for technology transfer and learning.

3. Trade Liberalization:
- Economic liberalization has led to trade liberalization, reducing barriers to international trade.
- This has facilitated the flow of goods and services between India and other countries, promoting global-local interactions.
- Indian companies have expanded their reach in global markets, while foreign companies have entered the Indian market, leading to increased competition and innovation.

Technology:
- Technological advancements have played a crucial role in influencing global-local interactions in India.

Impact on Global-Local Interactions:
1. Information and Communication Technology (ICT):
- The growth of ICT has enabled faster and easier communication, breaking down geographical barriers and facilitating global-local interactions.
- Indian companies have leveraged technology to provide services to global clients, such as software development, IT support, and business process outsourcing.

2. E-commerce:
- The rise of e-commerce platforms has provided a global platform for Indian businesses to sell their products and reach a wider audience.
- This has increased global-local interactions by enabling international transactions and expanding market access.

3. Research and Development (R&D):
- Technological advancements have enabled Indian companies to engage in R&D activities, leading to innovation and the development of new products and services.
- Collaboration with global partners in R&D has promoted global-local interactions and the exchange of knowledge and expertise.

Diaspora:
- The Indian diaspora, which refers to people of Indian origin living outside of India, also plays a significant role in influencing global-local interactions.

Impact on Global-Local Interactions:
1. Remittances:
- The Indian diaspora sends remittances back to India, which contribute to the country's economy.
- These remittances promote global-local interactions by connecting Indian families with their relatives abroad and facilitating the exchange of ideas, culture, and knowledge.

2. Knowledge and Skill Transfer:
- The Indian diaspora consists of highly skilled individuals who have achieved success in various fields.
- They contribute to global-local interactions by sharing their knowledge, expertise, and experiences with Indian businesses and professionals.

3. Investment and Entrepreneurship:
- Many members of the Indian diaspora have established businesses and invested in India, promoting global-local interactions.
- They bring in capital, technology, and global networks, creating opportunities for collaboration and