Globalisation has ushered in complex patterns of socio-economic change the world over. While enhancing opportunities for some, it also appears to shrink opportunities for others, including disproportionately large segments of women from the weaker sections of society. The process must therefore be viewed as having implications and outcomes distinctly mediated by gender and this article seeks to discuss this with special reference to the situation in India. It shows that women usually bear a significantly high share of the costs of economic change and adjustment associated with globalisation and concludes that before they can take advantage of the newly emerging economic opportunities, women have to overcome the constraints they face in accessing credit, skills, markets and other necessary resources. © 2004, Sage Publications. All rights reserved.