World Capitalism and Globalisation

India is being inexorably drawn towards globalisation by a part of its own capital, and an offshoot of its own society. The world economy is driven by saving/investment, trade, and innovation. India has chosen a wrong route to globalisation: its rate of saving is relatively low and falling, unemployment is high and rising, and its R and D effort is minuscule. An alternative path is suggested here, should India decide to go global under compulsion or otherwise.