“You don’t need to be a weatherman to know which way the wind is blowing”.
India celebrates its seventy-three years of Independence this year, along with bravely fighting the covid-19 virus with the lowest death rates per million. However, the question is, were we independent for seventy-three years? The time between 1970-1980 is our lost decades. We had a shortage of everything and anything made overseas was highly prized. Does that still signify our dependence on foreign aid? No.
We forbade foreign aid in 2004 and handled all-natural disasters ourselves. In 2008, Tata took over Jaguar and Land Rover. Sunil Mittal led Bharti Airtel completed the acquisition of Zain Telecom’s Africa operations for $10.7 billion, becoming the world’s fifth-largest mobile operator. People’s contribution to Swach Bharat eliminated open defecation. From 10% in 1947, our literacy is over 85% today and will supposedly be 100% by 2022. Undoubtedly, India started with its Renaissance in 1990 and is still going through it. Thus, it makes sense to say that though the term ‘Atmanirbhar Bharat” is new, the vision has been instilled in our hearts since long ago.
Hon’ble Prime Minister Shri Narendra Modi announced the ‘Atmanirbhar Bharat Abhiyan’ (Self-reliant India Movement) on May 12, 2020, with a special economic & a comprehensive package of Rs 20 lakh crores which aim towards achieving the mission. The Mission focuses on the importance of promoting local products. The five pillars of self-reliant India are-economy, infrastructure, technology divine system, vibrant demography, and demand.The Indian govt. has also recognized twenty sectors that can not only make India self-reliant but also global suppliers. These sectors include food processing, organic farming, agrochemicals, electronics, industrial machinery, furniture, leather, auto parts, and textiles, among many others.
Economic and geopolitical issues play a key role in India’s self-reliance. Beijing’s growing collaboration with India’s neighbor has created a sense of unease. We stand at 63 at an ease of doing business due to lack of infrastructure, lack of transport, l legal formalities involved in registering property, expensive power, and lack of warehousing. We should instead use alternatives of energy like solar energy to ease out the problems faced by foreign companies. Also keeping in mind the development of our companies, the foreign countries setting up their branches must enter into a joint venture with any Indian company. We can enter into a free trade agreement with the countries to avoid the high customs duty we pay.
Recently the term ‘Boycott China’ has influenced a lot of people because of the skirmish at Galway valley, but we must act sensibly and not flow into the sentiments. Our imports from China are five times more than our exports. Boycotting China’s goods will deteriorate China’s economy, but it will worsen our markets. China accounts for 10.6% of our foreign trade, whereas India accounts for only 2.1% of Chinese trade. India produces 22% of the world’s generic materials. However, 70% of the raw material are from China.
We must implement an import-substitution method in India to boycott Chinese products, but should have better alternatives also. Taxes should be decreased on the export of products (cotton and textile products, leather and leather products, chemicals, metal products) to our allies countries and in exchange banning of Chinese products in their country must be made as a deal. This would not only affect China economically but also result in a major shift of MNCs from China.
We must strive to improve multilateral economic and political ties with all of those countries having a border dispute with China. To truly conquer China on the world stage we should have an economy to match its ambitions. We should pump in money to increase research, innovation, and entrepreneurship to encourage “Made in India” products including raw materials.
Also, we need to progress at a national level. Improvements, however, are being made gradually. One Indian is lifted out of extreme poverty every 1.2s. Every second two bank accounts are opened and every two seconds one toilet is made. We have decided to make the death penalty mandatory for rapists and aim to make Ladakh a carbon-neutral place. We aim to improvise MSMEs by allocating them to 63% of GDP. India at 73 is in puberty. We aim for nothing else but happiness and prosperity.
“For too long have others written India’s destiny. We remember our past, we made mistakes, but never again. Now we commit ourselves that we will write our futures ourselves and let no one else write it”.