This project will look at the phenomenon of globalisation as it manifests itself at the local level and in day-to-day economic practices. The primary objective of the study is to demonstrate the manner in which the culture of business at the local level is impacted by the phenomenon of globalisation. The study will look at the finance sector in the coastal Andhra Pradesh city of Vijayawada in order to show the changes in business culture with the advent of globalisation. The finance sector in Vijayawada, as in many other parts of India, is characterised by an interesting relationship between the informal and formal business establishments.
The research will analyse the manner in which the two reinforce and complement each other and show how the informal sector has been affected by the changes that have resulted from globalisation and also the structural adjustment of the Indian economy. The study is inter-disciplinary in nature and method. First, the study attempts to reinterpret what is generally presumed to be the domain of pure economics in terms of cultural history, and therefore makes a strong argument for the cultural foundations of economic activity. Second, the study employs the methodology of oral history such as structured and unstructured interviews to access material and information related to the field of study.