Rajat Jaitly points to a report that says India is the second least globalised economy among 72 countries studied:

No matter what you have hear about India being the world economic power in some 20 years down the line. However,recent survey carried out by international consultancy and research firm AT Kearney has ranked India at the 71st position in its annual ranking of the world’s most globalised nations, AT Kearney and Foreign Policy Globalisation Index 2007. [...] The Globalisation Index is an annual study which assesses the extent to which nations are becoming more or less globally connected taking into account 12 variables grouped into four categories, economic integration, personal contact, technological connectivity and political engagement.