A pandemic leading us towards the new version of “Make in India”

Make in India was launched in India back in September, 2014. This initiative was taken in order to encourage the Indian market in order to make India a global manufacturing hub. This aggressive push towards the Indian economy gathered a lot of attention around the country and many schemes were launched to support and make this movement turn into reality. It’s been a run of good 6 years now and with the COVID-19 crisis, Modiji’s call for Make in India 2.0 is in the making. This time one thing which stands out to be the strongest is the fact that during the time of crisis the local products and manufacturers came to India’s rescue. With the pandemic entering the country, India wasn’t making any single PPE Kits before and now they are producing in bulk every day.

Prime minister, Shri Narendra Modi, addressed the nation on 12 th May at 8 pm, discussing about how the fourth lockdown will be, announcing a special economic package and a pledge of two major slogans which have caught a great amount of attention of the individuals of the economy. The first slogan is “Atmanirbhar Bharat Abhiyan”, emphasizing on self reliance campaign for the country which will be based on five pillars of India’s self reliance-Economy ,Infrastructure, Technology Driven System, Vibrant Demography & Demand and the other “Local mein Vocal” indicates being vocal about our local products. In this crisis situation the local markets and producers have come to the rescue of the nation hence the slogan is apt and the these markets should now be promoted on a high scale. This address by the PM has thrown lights on Make in India 2.0 plan and given the crisis this plan could work out better than before. With these two slogans, Make in India 2.0 is in the making and this time India will come out as more confident and powerful nation given all the advancement in our measures and resources.

Prime minister, Shri Narendra Modi, addressed the nation on 12 th May at 8 pm, discussing about how the fourth lockdown will be, announcing a special economic package and a pledge of two major slogans which have caught a great amount of attention of the individuals of the economy. The first slogan is “Atmanirbhar Bharat Abhiyan”, emphasizing on self reliance campaign for the country which will be based on five pillars of India’s self reliance-Economy ,Infrastructure, Technology Driven System, Vibrant Demography & Demand and the other “Local mein Vocal” indicates being vocal about our local products. In this crisis situation the local markets and producers have come to the rescue of the nation hence the slogan is apt and the these markets should now be promoted on a high scale. This address by the PM has thrown lights on Make in India 2.0 plan and given the crisis this plan could work out better than before. With these two slogans, Make in India 2.0 is in the making and this time India will come out as more confident and powerful nation given all the advancement in our measures and resources.One thing which was clear from Modiji’s speech was that it was an attack on trade with China by emphasizing the promotion of production & consumption of the local products in India. 20 lakh crore package which is equivalent to 10% of India’s GDP has also been assigned to the laborers, farmers, honest tax payers, MSMEs, cottage industries, the working class, middle class among others. By saying that India should be more self reliant, it doesn’t indicate the situation of complete isolationism with the world or calling out reverse globalization in the economy, it rather stands out as India being more confident and self sufficient in itself and by reducing its dependence on other nations.
Trade has always been a major contributor to the GDP of an economy. It has played an important role in not only economic expansion for a country but also in improving the living conditions and offering an improved and better basket of goods and services to its individuals. With the coming age of MAKE IN INDIA 2.0 India will have to make sure that the country maintains its economic image worldwide along with being a self reliant and sufficient economy. These two graphs will give an idea about how the trade has been in India for the past few years.