Globalization is important for economic reform, it was introduced with new economic policy in India in 1991.assuming that that globalization would be beneficial for the Indian economy, as a whole and would raise the welfare of the people throughout the country. It is assume that foreign direct investment and technology will inflow from developed countries to India. With this assumptions it will raise the rate of Economic growth in country and reduce poverty and that it will reduce the gap between upper class and the lower class in the society, Apart from economic integration there will be social integration from the world and India will taste the fruits of the global growth. Globalization means connected with the world India embarked on the globalization during 1990 -91.when the Indian economy was in worst position. The new economic policy was adopted to protect Indian economy form the further deterioration also it was aimed to get foreign exchange ,loan from the world bank, it was financial emergency of Indian economy foreign reserve was only for the 3 weeks To improve financial health of the country Government of India adopted new economic reforms globalization privatization liberalization. .