India experienced the Liberalization, Privatization, and Globalization (LPG) wave in 1991. Most commonly, this has been referred to as "internationalisation." On July 24, 1991, the Indian government released its New Industrial Policy. Building on already achieved gains, addressing distortions or weaknesses that may have crept in, sustaining a steady increase in productivity and gainful employment, and achieving international competitiveness were the main goals. In light of this, the industrial economy of the twenty-first century requires the Indian corporate sector to take the initiative in promoting business globalisation. The people factor, which highlights the message of achieving competitive advantage through, has become the foundation for the organisations' search for competitive advantage. The orientation toward strategically planning people-related priorities and human resource practises in order to implement "Strategic Human Resource Interventions" (SHRI) at work has been ushered in as a result of this. The fundamental question is whether and to what extent, in the management's view, SHRIs can properly assist organisations in moving towards a fundamental improvement in process, quality, and cost to meet global standards in a cutthroat business environment.

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Keywords: Liberalization, Privatization and Globalization (LPG), HRM, Innovative HR Practices.