Globalisation is being continuously debated. It has led to the increasing economic interdependence of the world through multiplying quantum and variety of cross-border flows of finance, investment, goods and services and widespread diffusion of technology. Trade and capital flows have become key drivers of globalization as borders opened across the globe.The New Economic Policy initiated in early 1990s in India was expected to achieve: high growth rate, increase in international trade and capital movement and, structural changes in the economy. Around the same time many other countries also...