Globalization has moved through several change phases from capitalistic philosophy to democratic business notions involving stakeholders in the process of business growth. Large companies are seeking to harness globalization through cooperation with the local enterprises to reach the bottom-of-the-pyramid market segment. The opportunities for global businesses are expanding with the support of rapidly emerging product markets, the global race for innovation, technology, and talent management, which tend to widen the impact of digitization. The multinational companies today are engaging with the local enterprises to exploit reverse innovations and build new business models. The successful examples of global-local business convergence in reference to India are Godrej-Boyce and GE Health Care. Moreover, success stories such as Airbnb Inc., Uber Technologies Inc., and Rocket Internet SE are spurring the imaginations of new entrepreneurs while highlighting the vulnerability of many traditional businesses.