Globalisation has emerged as a very powerful force affecting the whole world. In case of Third World countries it is manifest in the introduction of a set of neoliberal reforms at the behest of multilaterals such as the World Bank and International Monetary Fund under the tutelage of the trinity of advanced capitalist countries headed by U.S. representing the interests of global finance and corporates, but also with the cooperation of ruling elites and sections of business elites and upper strata of intelligentsia as junior partners in Third World countries in many instances. Such reforms have been introduced in India starting with the BoP crisis of 1991, which marks a clear shift in the model of development adopted in the country, from a state-directed model to a market-centred model. Global­­isation amply benefits the privileged all over but adversely affects the marginal­ised peoples and countries in the world.