Since the late 1980s, India has entered a new era in its economic history, following the change in economic policy from one of state-led development to liberalisation. This shift also ushered in the era of globalisation, a period in which the world is becoming increasingly interconnected—not only economically but also culturally and politically. The term globalisation includes a number of trends, especially the increase in international movement of commodities, money, information, and people, as well as the development of technology (such as in computers, telecommunications, and transport) and other infrastructure to allow this movement.A central feature of globalisation is the increasing extension and integration of markets around the world. This integration means that changes in a market in one part of the globe may have a profound impact somewhere else far away. For instance, India’s booming software industry may face a slump if the U.S. economy does badly (as happened after the 9/11 attacks on the World Trade Centre in New York), leading to loss of business and jobs here. The software services industries and business process outsourcing (BPO) industries (such as call centres) are some of the major avenues through which India is getting connected to the global economy. Companies based in India provide low-cost services and labour to customers located in the developed countries of the West. We can say that there is now a global market for Indian software labour and other services. Under globalisation, not only money and goods, but also people, cultural products, and images circulate rapidly around the world, enter new circuits of exchange, and create new markets. Products, services, or elements of culture that were earlier outside of the market system are drawn into it. An example is the marketing of Indian spirituality and knowledge systems (such as yoga and ayurveda) in the West. The growing market for international tourism also suggests how culture itself may become a commodity. An example is the famous annual fair in Pushkar, Rajasthan, to which pastoralists and traders come from distant places to buy and sell camels and other livestock.