This allows you to use custom widgets defined elsewhere, which designer otherwise wouldn't know about.
For example, if you've defined a widget MyLabel derived from QLabel, then you can define it here and then just insert a QLabel as placeholder in your ui and promote it to MyLabel.
The uic compiler will then include the necessary imports/includes, for example if you specified mypackage/mycomponent.h as header file and MyLabel as class name, then pyuic will add
from mypackage.mycomponent import MyLabel
(note how the .h is ignored, and slashes are converted to . by pyuic to keep compatibility with python)
Global include is ignored by pyuic, it only affects uic (generate #include "mypackage/mycomponent.h" or #include <mypackage/mycomponent.h> for c++)