The Future of Indian Subcontinent Future

This article tries to depict peculiarities of the process of political and economic transformation in India from the view of ideological changes, spreading process of globalization and their mutual impact on the economic development of the country. It points out that changes made in the ideological orientation in the early 90's has boosted process of globalization and so helped the country to re-join the world economy in a new qualitative form. The article proceeds to discuss positive impacts of running transformational processes as well as negative effects connected with the globalization phenomenon. Later on it elaborates on the global economic crisis and its impact on further economic development in year 2009. Besides that the article is also presenting various long-term perspectives dealing with economic development of India in horizons of years 2025 and 2050. The article ends with a summary concerning positive and negative impacts of globalization. It concludes that positive effects prevail over the negative one in this very case.