India is the 17th largest economic player in the world. AATMNIRBHAR China, USA, UK, Japan, Russia, Germany and South-East Asian countries contribute more than 2/3rd of trade around the world while India contributes only 2.1% in export while 2.6% in import till 2019. India has always been aspiring to become a top contributor in economic activity but AATMNIRBHAR many external and internal factors put a halt on it.
Recently in the wake of this hanker our AATMNIRBHAR honourable Prime Minister has given a clarion call to Aatm Nirbhar Bharat Abhiyan or “Self-reliant India Mission”. His ministry has announced a special economic package of RS. 20 Lakh Crore, which is 10% of India’s GDP. This immediate measure is stepped out by the AATMNIRBHAR government for the economic survival of poor and weaker section, hit by the sudden announcement of lockdown and also to rejuvenate the halting economy in the country.
Five pillars have been enunciated by the government.
PM has tried to shift his priorities AATMNIRBHAR from “Jaan hai, to Jahan hai” to “Jaan Bhi, Jahan Bhi” which undoubtedly indicate that corona is going to stay with us and we have to learn to live with it. Self-reliance does not mean ‘self-isolation’ or ‘protectionism’. It means socio-economic stabilization by collaboration and coordination.
This Mission does not only focus on the promotion and development of local or cottage industries but also focus on making India a world-class economic player by attracting multi-national foreign companies. China is the epicentre of this infectious disease, which has weekend its global position as the major AATMNIRBHAR economic player. Multi-national companies are getting impulsive to leave China and shift in other parts of the world.
This is God sent golden opportunity for a country AATMNIRBHAR like India to attract world-class investors by providing them with an adequate environment and making India an industrial hub globally.
Industries manufacturing inside India is not sufficed for tackling ongoing economic disaster. The world market is wide open, there are many competitors as well which have better infrastructure and more skilled labour than India. In order to beat these competitors, we will have to provide not only supply chain infrastructures like large ports, highways, skilled and cheap labour and sophisticated logistics but also stability and sincerity in our policies and regulations. Policy and procedural reforms in the industrial sector are the need of the hour.
India’s score in Ease Of Doing Business AATMNIRBHAR Index has been low since the years. Measures need to be taken to improve such scores which will Improve India’s image among investors as Investment-friendly country AATMNIRBHAR ultimately, enable us to attract Foreign Direct Investment. It will not only ameliorate the economic condition but also provide employment opportunities and pave the way for development.
If India desire for a AATMNIRBHAR pragmatic shift from “Make in India to Make For India and Make by India” it is essential to work on policy and regulation measure then only we will become Aatmnirbhar and accomplish “Think Global-Make Local” targets.