The present phase of economic globalization has certain dimensions. It refers to certain  environmental changes that impact the nature at the global level. Globalization is a wider phenomenon encompassing all aspects of global spread ranging from culinary skills, cultural practices, languages, political ideas and ideology to migration of people, flow of technology, trade, labour and investment. There are evidently epochs of more rapid global expansion and extension of capital. These epochs are termed as ‘Globalization’. Economic phase of globalization has its beginnings in the early 1980s. globalization as a process of minimizing the power of states and nations others see states playing a more proactive role for achieving the goals of globalization and even to protect the interests of people on the periphery. Changing nature of the
globalization has different aspect which is related to the various phases of globalization.