Globalization is a process by which various cultures, societies and economies through a global network of trade and communication become integrated in all respects. It basically marks the paradigm shift in economic thinking. During Hellenistic period commercialized urban centers were focused around the Greek culture which stretched from India to Spain. Trade was a very important aspect during that time and for the first time the thought of cosmopolitan culture emerged. The effects of globalization are diverse, affecting the various aspects of the world so as to bring changes for the better .Its effects not just influence the financial conditions of the country but also affects the industrial sector and the culture of the countries involved. Globalization widens the access to a range of foreign supplies for the consumption of a large number of consumers, owing to the market planning and policies adopted by different corporations.