Women and Globalisation: Is Microcredit the Answer? 【Reviews】

The focus of the present paper is upon the impact of globalisation upon women worldwide, with spe-cial reference to India and the viability of micro credit as a panacea to the fall out of globalisation. Willglobal economic integration support reduction of gender inequalities and disparities? Is providing microcredit to women the answer to the drawbacks of globalisation? Does it in reality make them “economicactors with power"? These are the key questions, which the present paper seeks to address. It is arguedthat women have suffered disproportionately from globalisation, while seeing few of its benefits. This isparticularly true of India. It is, indeed, paradoxical that on the one hand, all out efforts are being madefor women's empowerment, while on other, women are being disempowered through globalisation.Lack of access to credit is a key barrier to economic development and growth in the informal sector inwhich women constitute an overwhelming majority. This has led to an increasing emphasis upon micromicro credit and micro credit and microfinance for women as means for their empowerment. The pre-sent paper seeks to provide a feminist critique of micro credit, and to question the entire paradigm andstrategy of development. It is argued that the proponents of this approach are merely glossing over itscontradictions. Their is need to go beyond its limited range and scope, reinterpreting its objectives andmethodologies in the light of the feminist framework of development and empowerment, to meet thechallenges offered by globalisation and enable women to avail of the opportunities it offers as real actorsin the whole process.