Globalization is a hackneyed word and it means different things to different people. For some people globalization is primarily a synonym for global business. Globalization can be viewed as the integration of inputs and outputs into global markets, the sharing of information and knowledge, and the promulgation of rules governing such integration. There are many factors involved in the process of globalization. Transnational corporations are a key factor in the globalization process. The World Trade Organization, International Monetary Fund, and the World Bank do play a role in the process of globalization. The positive and negative affects of globalization and the groups that resist and support globalization are many. Some of the intense effects of globalization can be seen on rural communities, both in developed and developing countries. Corporate globalization has impacted the rural communities in several ways. These impacts can be categorized into economic, social, political, environmental, and cultural. Of all the rural communities, farmers and rural women are said to be most affected. This panel discussion presents an overview of impacts of globalization on rural communities with special reference to farmers and rural women.