Globalisation refers to the growing interdependence of countries worldwide through the increasing volume and variety of cross-border transactions in goods and services, and also through the more rapid and widespread diffusion of technology. Globalisation is the outcome of the policies of liberalisation and privatisation. One of the most important outcomes of the globalisation process is the "outsourcing of services."
Globalisation is an opportunity in terms of a greater access to global markets, high technology and increased possibility for the large industries of developing countries to become international players.