The present millennium is different from all earlier such occasions. We have the most delicate and advanced scientific knowledge, the most capable and sophisticated technology, the fifth generation microprocessors with knowledge and information; but do we have wisdom to make use of all these, so that there is human face impressed on these achievements? One of the features of human history has been that people, resources, ideas and consciousness move from one place to another, and in the wake of globalisation they are moving all too fast and getting transformed gradually; but what has been the role of values in such movements and transformations? Is our identity getting lost in the process of globalisation? Since the proclamation of the Universal Declaration of Human Rights on 10th December 1948 by the United Nations Organization, there have been intense and endless debates and discussions so far as the legal, political, cultural, ethnic, social and philosophical aspects are concerned. Indeed, the need for the Declaration of Human Rights has arisen from the sense of insecurity faced by human beings after World War II. Moreover, it raises the questions of human dignity, self-respect, right to live and work in the world that has become the driving force and furtherance of human rights. As a matter of fact, globalisation has intervened human life and activity since 1975 onwards, and since 1990 it has become unavoidable and inevitable.