New Delhi, Dec 11: The World Commission on the Social Development of Globalization (WCSDG) said today the process of globalisation has severly affected the small-sector industry.
“This sector is badly hit,” Deepak Nayar, member of the commission told reporters. “They are afraid of foreign competition and want protection.”
WCSDG, constituted in 2002 by the International Labour Organisation with 26 members, will look at the various aspects of globalisation, public perceptions about the process and its implications on the economic and social progress.
“In a country such as India large portion of people are excluded from the benefits of globalisation,” Nayyar, who is also the vice-chancellor of Delhi University, said. “It will look how the process of globalisation can benefit people.” The government, in consultation with top bankers and the RBI, is working out strategies for infusion of fresh capital in the sector.