India leads towards becoming self-reliant

By OEM Update Editorial December 23, 2020 1:50 pm IST

The COVID-19 pandemic is having an unprecedented impact on the economies around the globe. And, India is not an exception. In order to help the country cope with the pandemic, the government of India has made a slew of policy reforms and announcements.

With the aim to revive the economy, Prime Minister Narendra Modi emphasized the necessity of a self-reliant India. The initiative focuses on reviving the economy, promoting domestic production, generating employment, supporting start-ups and budding enterprises, strengthening supply chains and empowering people. For the same, the government has recently announced a special economic package worth ₹ 20 lakh crore under the ‘Aatmanirbhar Bharat Abhiyan’.

Narendra Modi in his speech pointed out five ‘I’s to make India a self-reliant economy. These induce intent, inclusion, investment, infrastructure and innovation. He further stressed on the need to restrict imports and boost local manufacturing with the “Make in India for World”, “Local for Global” And “Vocal for Local” initiatives.

India is emerging as a strong, self-sufficient and self-reliant nation with enormous opportunities. Here are a few factors that can help India become a self-reliant nation.