GLOBALIZATION AND DISPLACEMENT: THE HUMAN COST OF FOREIGN INVESTMENT IN MEGAPROJECTS

Abstract

Globalization has hastened the increase of foreign investment, particularly in large-scale initiatives aiming at economic growth and prosperity. Still, the catastrophe has caused many houses to be lost. This study probes the complex interactions among indigenous peoples' relocation, globalization, and foreign direct investment. This paper explores the social and cultural consequences of relocation and clarifies how individuals feel about losing their homes, customs, and community. Case studies from several locations have shown forced evictions and relocation resulting from megaprojects including infrastructure construction, mining, and extensive agricultural activity. The study also examines closely how government policies and Multinational Corporations exacerbate these issues. Sometimes regulations that speed up property purchases and provide incentives to foreign investors-such as tax breaks and subsidies—shadow the rights and welfare of local communities. Sometimes weak enforcement and insufficient compensation for those affected lead to the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation, and Resettlement Act, 2013, meant to solve displacement issues in India, to fall short in reality. Regarding the social and environmental effects of their projects, profit-driven multinational companies may sometimes overlook them, leading to significant displacement and cultural collapse. The results of this research emphasize the detrimental consequences of these expenditures and the necessity of longer-term, more all-encompassing solutions that give the welfare and rights of affected populations first priority. To minimize the effects of displacement, it need improved legal safeguards, community engagement, and more equitable pay practices. This abstract emphasizes the significance of a human rights and social justice-focused globalization approach.