The lingering pandemic and the ongoing war in Europe has made the world economy experience a slowdown in the pace of globalisation. This has ramifications for both the global and Indian economy.

Nothing demonstrates globalisation like McDonald’s. Its burgers and fries retain a trademark flavour no matter where they are sold. Yet, the company does not shy away from embracing local tastes.  January 1990 was momentous for globalisation as McDonald’s opened its first outlet in the Soviet Union, signalling the then communist superpower’s desire to move towards a more open market.