Advertisement
Monday, Oct 25, 2021
Outlook.com

Opinion | India Has Been Trying 'Atmanirbharta' Since 2014, Why Hasn't It Succeeded?

In a globalised world, India needs to rethink its trade policies and aggressively negotiate trade agreements, writes Arpita Mukherjee of Indian Council of Research on International Economic Relations

Opinion | India Has Been Trying 'Atmanirbharta' Since 2014, Why Hasn't It Succeeded?
Opinion | India Has Been Trying 'Atmanirbharta' Since 2014, Why Hasn't It Succeeded?
outlookindia.com
2020-06-06T08:29:00+05:30

Make in India, launched in 2014, has not been able to attract much investment in manufacturing. Besides, India is far behind many ASEAN countries in attracting investment in manufacturing. In May 2020, when Modi announced a $265 billion stimulus, the focus was to revive post-COVID-19 economic growth and aatmanirbharta by reducing dependency on imports and promoting local manufacturing, markets and supply chains. Given that India has been trying atmanirbharta since 2014, one has to understand why it has not been able to do so, why our trade balance is so skewed in favour of China, what is the level of dependence on China and how Aatmanirbhar Bharat Abhiyan can succeed.

In 2018-19, India had a negative trade balance of $53.56 billion with China. A March 2020 UNCTAD study on the global effects of China’s slowdown and supply chain disruptions ranked India 15, with an estimated impact of about US$0.34billion. Vietnam was at six, with an impact of $2.29billion. Other ASEAN countries like Singapore, Malaysia and Thailand were estimated to be affected more severely than...

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

'Phir Bhi Dil Hai Hindustani': Shah Rukh Khan As The Symbol Of Indianness

'Phir Bhi Dil Hai Hindustani': Shah Rukh Khan As The Symbol Of Indianness

SRK’s persona evokes the kind of Indianness that denies categorisation into singular, exclusive identities. And thrives on making others feel welcome.

Aryan Khan Case: Witness Alleges NCB Asked For Rs 18 Crore Bribe From Shah Rukh Khan

Aryan Khan Case: Witness Alleges NCB Asked For Rs 18 Crore Bribe From Shah Rukh Khan

Aryan Khan, who is currently lodged in Mumbai's Arthur Road Jail, was arrested on October 2 on a cruise in connection to the possession of illegal drugs.

T20 World Cup: Pakistan Break Jinx Vs India In Style

T20 World Cup: Pakistan Break Jinx Vs India In Style

Babar Azam (68) and Mohammad Rizwan (79) made light of a 152-run target to help Pakistan break a World Cup jinx against India.

Love, Longing And Shah Rukh: Growing Up With DDLJ In The Time Of Mandal And Kamandal

Love, Longing And Shah Rukh: Growing Up With DDLJ In The Time Of Mandal And Kamandal

Shah Rukh Khan called himself a peddler of love. That’s better than the pitches selling religion. Love is all we need now.

Advertisement