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Atmanirbhar Bharat: The Movement That's Redefining India's Economic Landscape

Updated: April 15, 2025 10:46

Image Source: IBEF
India's Prime Minister Narendra Modi launched the Atmanirbhar Bharat initiative, a holistic strategy to promote self-sufficiency in all industries. The initiative is based on five pillars: Economy, Infrastructure, System, Vibrant Demography, and Demand. The program is designed to lower import dependence, increase local manufacturing, and boost domestic products.
 
Important Points:
  • Electronics Manufacturing Boost: The government has announced a ₹22,919 crore scheme to increase domestic electronics manufacturing, targeting key components such as camera modules and lithium-ion cells. The move is vital to cut down on foreign imports and enhance India's position in the global supply chain of electronics.
  • Economic Stimulus Package: Atmanirbhar Bharat was first proposed as a ₹20 lakh crore economic package to fight the COVID-19 pandemic, with a focus on supporting MSMEs, agriculture, and infrastructure growth.
  • Defence Sector Improvements: The scheme involves major defence sector reforms, including import prohibitions and raised FDI caps, to promote indigenous manufacturing and minimize reliance on foreign weapons.
  • Global Competitiveness: Through encouraging local production and innovation, India seeks to become increasingly competitive on the world stage, riding its huge demographic dividend and enhanced infrastructure to fuel economic growth.
This strategic thrust towards self-reliance puts India in a position to become a significant player in international markets, boosting its economic resilience and technological prowess.
 
Source: Angel One, Business Today, Wikipedia.

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