ATMANIRBHAR BHARAT A LONG WAY TO GO

ATMANIRBHAR BHARAT A LONG WAY TO GO

The COVID-19 pandemic is driving the world economy to retreat from global economic integration.  Although this retreat will not mark the end of globalization but globalization can be reversed, at least partially.

 Globalization consists of following elements:

Cross border flow of trade, investment, data, ideas, technology, working people, tourists and students.

Long before the Covid-19 pandemic, the United States has embraced an “America First” policy, shifting away from trade liberalization and moving toward protectionism. The COVID-19 pandemic simply adds further momentum to the de-globalization trend.

There is no alternate to peaceful coexistence. Coexistence facilitates the desire to understand the world and the desire to reform it are the two great engines of progress, without which human society would stand still.

India in the process also joined this race and people have started boycotting overseas goods in the name of mission ATMANIRBHAR.  We can understand that being ATMANIRBHAR is an excellent idea but at the same time one should not forget that without cross borders exchanges we cannot build a complete supply chain in the system in any field.  Exchange of goods, technology, idea & knowledge is the only way to achieve the goal of ATMANIRBHAR bharat. Protectionism cannot bring efficiency rather healthy competition facilitates people to act efficiently and adopt innovation & technology to come out with up-gradation & quality.

Though we can adopt some tools like anti-dumping tariff barrier if unfair competition is imposed by any country. If any country causes an economic threatening by dumping goods cheap with the support from its government then we should keep our eyes open to counter such move. CHINA is a typical example of the same and we must be careful to check such threatening move.

We have to overcome five major problems in Indian manufacturing sector to become internationally competitive.  

I am trying to highlighting the same as under:

Size:  Our industries sizes are still not big enough to get the advantages of economies of scale and compete against multinationals. Our enterprises should focus on economies of scale factor so that we could produce cheap, to counter challenges from other countries.  Asian Paints is a typical example of size. Asian Paints is amongst world top ten paints companies and third largest in Asia. The company now is in a position to counter the competition of any other multinational companies like Akzo Nobel & Kansai Nerolac.

Technology:  We are a way behind in the technological advancement in manufacturing sector owing to which we are unable to offer a quality and upgraded product.  Indian entrepreneur should focus on latest technology so that they can deliver world class products. Our business houses should collaborate with technologically advanced companies for acquiring latest know how to enable their presence in international market.

AI & Automization:  Although some of manufacturers have been able to adopt AI & Automization but many of them are still lacking the same.  Look at China what they have been doing. China gave highest priority to Technology, Automization and Artificial Intelligence and these factors facilitates the country not only to generate large volumes but upgraded products as well.

Brand:  Indian manufacturers never focused on creating a brand.  Our country, in so many years, could not come out with a brand which can be named as an International success. We have a few such examples and them too are not in the manufacturing field.  Infosys and TCS created their brand known internationally in the software field.  Jio has been the latest company to make a mark in the world rooting from India. Entrepreneurs should change their mentality and must come out from local market to mark a presence internationally.

Confidence and Will Power:  There is a clear absence of Confidence and Will Power amongst our Entrepreneurs.  Most of them are confined to their own comfort zone and never tried to come out from it and see how big the world is?  They all must equip themselves to break this wall and step out of their comfort zone mentality and should aggressively try to bring a change in their vision and approach or otherwise they can never compete in this modern world.

We have long way to go to become ATMNIRABHAR and one must keep in mind that the global economic integration is the only thing which can make it possible let alone the thought of disintegrating ourselves from rest of the World.

-Rajendra Jhanwar