This is the considered to be one of the best Socio-Economic Message given by Indian PM Narendra Modi to promote Local Business and become Self Reliant so to help the second-biggest populous country to be saved in any such pandemic event happens in future, which are having a devastating effect on the daily life of the people.
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After this corona lockdown it is the obvious need of so populous country to self-reliant i.e. ‘Atmanirbhar Bharat Abhiyan’. While trading with many norms and regulations internationally, covid19 has taught us the importance of homegrown industry support.
Open trade has always been a part of good bilateral business, a cultural exchange which makes nations liberal but what if the pandemic situation like today, 2020 arises again thereafter. It is the complete isolation phase where people were literally affecting and dying, other than fundamental trade there was nothing left.
In this isolation, phase-only local suppliers met the requirements of this huge population, just imagine the otherwise scenario, what would have happened? Now onwards there are many questions that have arisen in front of all leaders around the globe.
Some experts are saying this is a challenge of Globalisation, where countries coming together alongside their concerns are also becoming common. The problem before world leaders is to save and promote their own house without hurting relations with other nations.
Meanwhile many sectors affected badly at the same time other sectors have gained new opportunities. Rather sectors like IT have quickly adopted work from Home culture overnight and started back to work like a normal working day. This is an opportunity to grow its business operation abroad which the client base is looking at India as a cost-saving option.
With this new slogan “Vocal for Local” is a great opportunity in the local manufacturing sector where SME can create alternatives to manufactured imported products locally. This situation has also put lights on ‘Level Of Dependency’ for business-related activities.
Further implementation planning and blueprint elaboration have been given by respective ministers but a more clear implementation model is yet to be elaborated, but for sure will have a positive impact on Indian and World business relations. India has full capacity to come forward as trust partner for the world and local quality cost-effective options.