- Make in India, Atmanirbhar Bharat seek to increase India's self-sufficiency
- India's startups are leaving an impression on the world
- PM Modi's push to Atmanirbhar Bharat will make India a major military power
Modi govt 8 years: Initiatives such as “Make in India” and “Atmanirbhar Bharat” seek to increase India's self-sufficiency by promoting domestic industry. The Government of India under Prime Minister Narendra Modi has pursued economic reform efforts. The government also continues to promote programmes such as “Make in India” launched in 2014 and “Self-reliant India” (Atmanirbhar Bharat – May 2020) that seek to increase India's self-sufficiency by promoting domestic industry and reducing reliance on foreign suppliers and imported goods. India has also proposed and promulgated several data localisation requirements.
21st century India is moving forward with the dream of 'Aatmanirbhar Bharat' and 'Make in India'. India's startups are leaving an impression on the world. India is the world's third-largest startup ecosystem.
Make In India
For years policy-makers have been debating how to give an impetus to manufacturing in India and make India a Global Manufacturing Hub.
But it is Narendra Modi, who within a matter of months, launched the ‘Make in India’ campaign to facilitate investment, foster innovation, enhance skill development, protect intellectual property & build best-in-class manufacturing infrastructure.
The “Make in India” initiative is based on four pillars, which have been identified to give boost to entrepreneurship in India, not only in manufacturing but also other sectors. ‘Make in India’ recognizes ‘ease of doing business’ as the single most important factor to promote entrepreneurship. A number of initiatives have already been undertaken to ease business environment. The aim is to de-license and de-regulate the industry during the entire life cycle of a business.
Atmanirbhar Bharat Abhiyaan - Self-Reliant India
Atmanirbhar Bharat Abhiyaan or Self-reliant India campaign is the vision of new India envisaged by Prime Minister Shri Narendra Modi. On 12 May 2020, PM raised a clarion call to the nation giving a kick start to the Atmanirbhar Bharat Abhiyaan (Self-reliant India campaign) and announced the Special economic and comprehensive package of INR 20 lakh crores - equivalent to 10% of India’s GDP – to fight COVID-19 pandemic in India. The aim is to make the country and its citizens independent and self-reliant in all senses. He further outlined five pillars of Aatma Nirbhar Bharat – Economy, Infrastructure, System, Vibrant Demography and Demand. Finance Minister further announces Government Reforms and Enablers across Seven Sectors under Aatmanirbhar Bharat Abhiyaan. The government took several bold reforms such as Supply Chain Reforms for Agriculture, Rational Tax Systems, Simple & Clear Laws, Capable Human Resource and Strong Financial System.
PM Modi's push to Atmanirbhar Bharat: Goal is to make India major military power
To make India self reliant in the defence sector, the Ordnance Factory Board (OFB) was divided into seven different companies. The new Defence PSUs are 100 per government owned corporate entities and will help in improving the country’s self-reliance in defence preparedness. Ministry of Defence (MoD) also introduced import embargo on 101 items beyond given timeline to boost indigenisation of defence production.
Today, the world is looking at India as a manufacturing powerhouse. The Make in India campaign is the need of 21st century India, and it gives an opportunity to show our potential. PM Modi has urged time and again that the people of India should work with full force to build a robust manufacturing base in India. Make in India is the need of the hour in sectors such as electric vehicles, speciality steel, and medical equipment. The opening up of coal, mining and defence sectors have opened up huge opportunities for industries. PM Modi urged that the industry should talk about 'vocal for local' and 'Make in India' in their product advertising. India has huge young talent and skilled manpower, and this can be used to promote Make in India.