Globalization is the internationalization process. For developing countries,it means integration with the world economy. In the era of globalization where the whole world is integrated into one market, Transnational Corporations (TNCs) are of prime importance especially for developing countries. TNCs are those which have gone global i.e. extended their operations beyond the boundaries of the nation, in which they were originally started. The industrial, technological, banking and investment sector in India is undergoing a phase of transition owing to increased competition and changes in regulatory scenario due to globalization. This is forcing the companies to shed flab and become more technology oriented. Due to rapid changes in the business environment which require diligent measures from companies if they have to survive in the long run, the domestic companies particularly the public sector companies in India are finding it difficult to cope with the competition.With time it looks like, the relatively Small Indian Companies will have to either close down their operations as restructuring process would again prove to be burden for them or they can look for a sound merger partner.

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Dr.Sharda Gangwar,of Institute for Excellence in Higher Education,Bhopal(M.P)India.has 20 years of teaching experience. She has successfully completed six research projects funded by University Grants Commission. She has 9 books on Accounting, one of them Management.15 Research papers published and one book project was published by LAP