#Five major drivers of globalization driver#

Being the member of any regional community, the Central Asia countries have the possibility to correct foreign economic policy, trade and economic relations, to deepen and widen branch-wise specialization of its economies directed to the rational using of natural resources, to create common regional infrastructure - industrial, informational and communicational, transport and others, to resolve jointly the issues of security, ecologic and other regional problems. Undoubtedly, the results of realization of anti-crisis programs of development, forecast of the features of post-crisis period need new reconsideration of economic measures of the countries, especially, the countries with transitive economy. The economic policy of the country is directed, first of all, to the searching own way of modernization of economies, considering historical course of world crisis facts, they make conclusions about possibility of achievement of any positive results only by drawing up bilateral and multipartite agreements, entering regional communities, using own approaches for transformation of national economies, liberalization of foreign economic activity, stimulate transparency of economies by every possible ways to enhance competitiveness of production, more fully use potential capacity of the country, and on this base acceleration of creating market relations in the country, that lead to further integration to the world economic community. In the wave of global financial-economic crisis, the countries with transaction economy have been considering the possible consequences of financial crisis for their economies. Keywords: globalization, the driver, the innovation, the crisis, the economy of Uzbekistan.

#Five major drivers of globalization driver#

On this basis, it found that innovation is a driver of economic growth in Uzbekistan.

It analyzes the innovation policy in Uzbekistan in the context of globalization. (b) Also, explain briefly any three impacts of those concepts on Indian business and industry.Innovation as a driver of modernization of economy of Uzbekistan under (a) In the above paragraph, two major concepts related to government policy have been discussed. Competition resulted in reduction in prices, thereby benefitingВ the customers. Success of the company attracted many other players to enter the market. In a short span of time, the company emerged as a market leader. It set up its office in Gujarat with a view to capture the Indian market. The company was also aware that there had been increased level of interaction and interdependence among the various nations of the world and India could be made a base for its international trade. The company decided to take advantage of the fact that licensing requirements had been abolished. While in search of markets abroad, the company found that in India, the reform process was underway with the aim of accelerating the pace of economic growth.

It has a large Research and Development team which invented the first smart watch W-I, which besides showing the time would also monitor few health parameters like heart beat, blood pressure, etc. Thus, we can say that, market convergence, competition, exchange rates and cost advantages are the key drivers of globalization. Most companies move their head quarters to overseas to avoid their respective home countries' high taxes and other costs associated in business operation in those countries. Adverse business environment in home country pushes the companies to look for global market. To set up a business in a place which is politically more stable. To cut down the manufacturing cost, industries may set up manufacturing units overseas where manufacturing cost is favourable. For the development of business a new technology is needed which could be taken from overseas. An organization named WTO (World Trade Organization) was established for the development of cross border trade. World is shrinking because of the development of the transportation, communication, technological changes etc. Domestic markets are not enough and other markets are required for the progress of industry.