Opinion: ‘Self-reliant India Mission’ to open doors for foreign investment, technology

All set to write a new world order, the COVID-19 pandemic has caused socio-economic disruptions across the globe forcing various nations to redraw their economic policies.

The issues like nose-diving GDP, widespread unemployment, and the collapse of the supply chain have moved many nations like India, Japan, South Korea and others to shift their emphasis from offshoring to reshoring.

Also known as onshoring or back-shoring, the rule in-the-making would entail a reversal of off-shoring process and reintroduction of domestic manufacturing to own country.

Indian Prime Minister’s recent call for becoming ‘vocal’ for promoting ‘local’ products and services under the Atmanirbhar Bharat Abhiyan (Self-reliant India Mission), has spurred positive vibes in domestic and overseas business circles.

The world, however, feels that the Self-reliant India Mission does not mean India closing its doors ay foreign investment and technology. India, actually eyes at making the “Make in India” initiative stronger by inviting foreign capital, and expertise. Read more...