No, internationalization is part of the localization process. For example, the first step in taking software global is internationalization. It is the application of the principle in software development to cater to users outside of your home market. It means that even while developing for your home market, you build in compatibility for different currencies, tax regimes, character sets, language directions and formats for names, dates, addresses, and so on. This ‘multilocal’ approach avoids having to go back and build these in after the fact when it’s time to localize the product for an international launch.
Without the design and development practices of internationalization, localization becomes much more difficult, time-consuming and costly to do well – and the risk of failure much higher. I18n is critical to efficient and effective product globalization because it simplifies product localization.