Technology is the vital force in modern globalisation because it has made the rapid movement of goods, services, and information across countries possible and affordable.
Transportation Technology: Improvements in transportation, especially the use of containers, have reduced port handling costs and increased export speed. Goods loaded in containers can be shifted intact between ships, railways, planes, and trucks. The fall in air transport costs has also enabled greater volumes of goods to be carried by airlines.
Information and Communication Technology (ICT): Telecommunications, computers, and the Internet allow instant communication across the world at negligible cost. Satellite communication enables contact from remote areas. E-banking allows instant international money transfers.
Example: A London magazine is sent via Internet to Delhi for designing, instructions are given through telecommunication, and payment is made through e-banking — all enabled by IT.
Thus, without technological advancement, globalisation in its present form would not have been possible.
Source: Chapter 4 — Globalisation and the Indian Economy, Section: Factors that have enabled Globalisation — Technology
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