Globalization has brought about significant changes in the literary landscape of India, including the emergence of more prestigious and internationally recognized awards. This has been driven by the increasing interconnectedness of the world and the growing influence of global media and communication networks.

While the rise of international literary festivals, the increasing popularity of Indian literature in translation, and the emergence of global publishing houses are all major factors contributing to the globalization of Indian literary awards, the decline of regional literary awards is not a contributing factor.

Globalization has had a positive impact on the recognition and reception of Indian literature on a global scale. It has provided increased opportunities for Indian writers to be published and read worldwide, leading to greater visibility and appreciation of Indian literature among international readers.

While the need to adapt to different cultural contexts and sensitivities, the pressure to conform to Western literary standards, and the difficulty in getting published in international literary journals are all challenges faced by Indian writers in a globalized literary world, the lack of financial support for Indian writers is not a challenge.

Indian literary awards can contribute to the promotion of Indian literature on a global stage by providing financial support to Indian writers, organizing international literary festivals and events, and translating Indian literature into multiple languages. These initiatives help to increase the visibility, accessibility, and appreciation of Indian literature among international readers.