Mint Quick Edit | Modi’s swadeshi call: A pragmatic approach

5 months ago 8

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Prime Minister Narendra Modi’s public advice on self-reliance should not lead policymakers to shut out foreign goods or overlook avenues of globalization that remain open. (DPR PMO)

Summary

The PM asking citizens to favour Indian made products is consistent with his emphasis on Atmanirbhar Bharat. This is a practical approach that needn’t be taken as a throwback to the days of India’s closed economy.

Prime Minister Narendra Modi has urged citizens to buy locally made products. “The world economy is facing instability and uncertainty. In such times, countries are focusing solely on their own interests," he said on Saturday, adding that India too “must remain alert to its own economic priorities."

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Though he didn’t name US President Donald Trump or his harsh tariff policy, the trigger for this exhortation is unmistakably American. Trump’s warped view of fair trade is forcing countries to look inward. This is bad for global trade overall, but a reality we must contend with.

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That said, while Modi’s public advice is in line with his 2020 emphasis on self-reliance under the banner of Atmanirbhar Bharat, it should not lead policymakers to shut out foreign goods or overlook avenues of globalization that remain open.

Also Read: Mint Quick Edit | Indian trade is holding up but is that enough?

Efforts to promote local manufacturing are consistent with an insistence on industries facing competition that incentivizes them to raise their game and aim for the global league. Being Indian can spell a preference for self-made products without a return to harmful aspects of our pre-1991 closed economy if we leave it to consumer choice.

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