Globalisation refers to the process of integration between countries such that there is a greater flow of goods, services, capital and labour among them. This process is making world into 'one big village'. This process has had following impact: • Greater coordination and cooperation at international level. • Emergence of institution like WTO (World trade organisation) for facilitating trade led relation among countries. • Separation of the process of production, where in a company can have R&D, Manufacturing unit and distribution zone, being located all separately in different location.