The period in which the world is becoming increasingly interconnected is called:

Liberalisation Globalisation Privatisation Commercialisation

Globalisation

Since the late 1980s, India has entered a new era in its economic history, following the change in economic policy from one of state-led development to liberalisation. This shift also ushered in the era of globalisation, a period in which the world is becoming increasingly interconnected — not only economically but also culturally and politically.