Globalization is the process by which the ideas, knowledge and information, goods and services spreads around the world. In business the term is used in an economic context to describe integrated economies marked by free trade, the free flow of capital among countries and easy access to foreign resources including labor markets, to maximize returns and benefit for common good. This concept of Globalization has affected the law and legal institutions in many ways. Law colleges in different part of the country including the law college in Coochbehar also got affected by the globalization. If we talk about globalization it affected in many ways specially the legal field, as we refer the foreign cases and human right standard settled by global institutions such as UNO.
Economic globalization- Here, the emphasis is on the reconciliation of global monetary business sectors and the coordination of monetary trade. International alliances, such the North American Free Trade Agreement and the Trans-Pacific Partnership are instances of financial globalization. Worldwide enterprises, which work in at least two nations, assume a huge part in financial globalization.
Political globalization- This type covers the public approaches that unite nations strategically, financially and socially. Associations, for example, NATO and the UN are essential for the political globalization exertion.
Cultural globalization-This part of globalization centers in an enormous part around the mechanical and cultural variables that are making societies meet. These incorporate expanded simplicity of correspondence, the inescapability of web-based media and admittance to quicker and better transportation.
Impact of globalization:
Globalization has impacted equity conveyance components of countries all over the planet. It contacts and spreads the lawful turns of events and discussions which are happening in one area of the planet to one more region of the planet. The best illustration of this is the improvement of regulations and ideas connecting with Human Rights, Competition regulation, Intellectual Property Rights, Cyber regulations, Media regulations and so forth as of late. Globalization has impacted the manner in which these regulations have come to fruition in various nations all over the planet. The arrangements of the regulations authorized in one nation have a course on arrangements instituted in another country. This is a result of the basic reality that Globalization has connected the economies of countries which in any case have no regional or topographical association.
India reacted emphatically by opening up its economy by eliminating controls during the Economic progression. Accordingly, Indian market faces contest from the inside and outside the country. This prompted the requirement for a solid regulation to administer equity in business matters and the Competition Act, 2002 was passed. The historical backdrop of rivalry regulation in India traces all the way back to the 1960s when the main contest regulation, to be specific the Monopolies and Restrictive Trade Practices Act (MRTP) was sanctioned in 1969. Yet, after the monetary changes in 1991, this regulation was viewed as out of date in numerous angles and thus, another contest regulation as the Competition Act, 2002 was established in 2003. The Competition Commission of India, is the semi legal body laid out for upholding arrangements of the Competition Act.
The improvement of the regulations connecting with Human Rights all over the planet can give an incredible knowledge into what globalization has meant for the manner in which equity is managed as Human Rights regulations continued to create all over the planet with the increment in Globalization and countries these days are exceptionally worried about common freedoms infringement. There have been different shows and meetings worldwide to control Human Rights infringement and to work on the state of human existence and nobility all over the planet. The syllabus of Law colleges including the small town law college in Coochbehar includes international law and the human rights law where we study the international norms and regulations settled by the international organisation etc.
