Globalization in Context of Emerging Constitutional Challenges

The concept of Globalization was realized in the 1990's when a new world order was formed by the end of the cold war. The economic equations were changing with the integration of the economies were getting started. We opened up our economy in the year 1991, and since then it became a never-ending process. Globalization has brought up many positive as well as negative factors that include FDI that helped our economy to get a boost while the factors like the loosening of the trade barriers in Agriculture have built up a concern regarding the food security.

Apart from the economic challenges, some constitutional challenges are also emerging up with the time that has relevance to the fundamental rights, Directive Principles of State Policy, changes in Judicial structure and appointment of Judges and Governance and sovereignty issues and more.

Importance of Institutional Mechanism in Governance:

Governance is directly related to the how aware the public of the country is. Also, the intellectuals play a vital role in determining the future leaders that can bring about the desired changes in the governance concerning the changing global scenario. The epicenter of intellectuals can be found at the educational institutions. The educational institutions are the place where the talks of the changes begin. It is a constructive ideology that promotes the involvement of the students and the faculties on a common platform at which the knowledge can be shared, and practical application of the same can be applied in the future. For instance, Parul University is going to organize a National Seminar on the "Constitutional Challenges in the Era of Globalization" that will bring together the National and International intelligence to discuss the different aspects of the topic.

The Relevance of Constitutional Policy Making regarding Globalization:

With the increasing cross-border trade, the relevance of the constitutional policymaking in accordance with the situation that can benefit the nation as a whole has increased. It has become necessary for the government to get proactively involved in the rulemaking and setting up the redressal and a dispute mechanism in cross-border trade. The trade can involve the physical trade as well as the trade in stocks. For example, the new Insolvency and Bankruptcy Code framed by the government is designed to address the disputes arising in the businesses. There is an extreme example of the changes made in the constitution to facilitate the global trade. In the year 2005, the Indo-U.S Nuclear Deal was signed in which the United States had amended the Article 123 of their constitution to facilitate the joint agreement. The agreement enabled India to get a special waiver from the United States regarding Nuclear Trade.

Such changes and challenges need to be deeply analyzed by the youth of the country that is going to frame a healthy future. The seminar conducted by the Parul University is a perfect example of the prototype that can be followed by other educational institutions to address the numerous challenges to the students.