Progress of India towards self-reliance is governed by certain pressing issues and their timely solution to achieve self-reliance. India has succeeded in keeping the rate of spread of Coronavirus which has caused a lot of injury to the social and emotional status of the society and created obstacles for India in achieving the aim of becoming self-reliant and seek self-sustenance.
If we look back to the days when economic reforms were introduced in the 1990s that gradually brought improved result in bringing the economy on the right track and resulted in improvement in the living standards of the people. However, we could have put in more thrust on technological and related advancements. This lacuna surfaced because of the trade policy on import and export of the goods.
The Central Government is now focusing more on development of infrastructure, usage of technology to optimum, upliftment of human resources. This is the right time when India can revive the economy by bringing about some major changes in the usage of available resources with the help of penning down new methodologies.
Issues that have caused hindrance for India’s progress towards self-reliance are; keeping away from full open markets that aligned with globalization, rate of production and manufacture, China playing an indispensable role in the Indian economy, Centre-State face off in concurrent sectors particularly agriculture.
If we shift our focus towards the solutions available to us viz. the availability of trained and skilled workforce for self-sustenance, shifting the dependence of manufacturing from China to India. India has a considerable young population strength that can be trained to attract new investments from global manufacturing giants. Optimum utilization of Indian human resource can set a new trend in the global economy. India is a ground for development and also a market with a huge potential for finished goods.
India possesses relevant aspects for generating the demand and consumption of the supply which can boost Indian self-sustenance. At the same time, while striking the balance between opening more areas for investment, India needs to seek healthy competition among the local and regional level. An opportunity to recognize the scattered local expertise of the Indian people in creating hand made useful things.
Policies can be framed to give more inclination towards local innovative crafts and skills so that they survive capitalism. Increasing control over agricultural products, defence sector, public health system and developing an indigenous chain of supply will enhance the self-sustenance. Increasing transparency in government purchase system adopting global procurement standards can enhance the rate of provision of material for expecting real-time growth.
India can focus on areas where it can shoulder the leadership and invite the investors. Usage of technology for the growth of Indian subcontinent is still underexplored. The world has turned virtual and advancement towards artificial intelligence and automation is the need of the hour. Hence, it can be summed up that framing real-time policies that focus more on meeting the results and adequate pumping of resources for proper development of education sector, health sector and catering for training the human resources will take India a step closer to achieve self-reliance.