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Industrialists Are Crusaders of India in the World

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Savita Dahake
Industrialists Are Crusaders of India in the World

Indian industrialists are out to establish India’s once existing economic excellence in the world. Truly, the lion of ‘Make in India’ roars profoundly, so it does as it has reverberated globally. India has grabbed the attention of global companies as a preferred investment destination. The ‘Ease of Doing Business’ coupled with India’s vibrant market and consumer base is sure to accelerate businesses in India and build ‘Aatmanirbhar Bharat’. It is also time to take India’s uprising to the world and Indian industrialists who have traditionally made their marks on the global space are on a new mission to change the future of the Indian economy.    

India’s economic liberalization  

India’s economic liberalization in 1991 was a major step in the Indian economy. However, when compared to other economies, India’s market opened much later. India’s arch economic rival China opened its market in the late 1970s. So, China is already 20 years ahead of us. It takes a little time to build momentum until the policy is right for industrialization. But we are at a cusp and we can now benefit from policies devised during 1991. It is a time when we can take it multifold and capitalize on the opportunity. The next 10 years are going to be very crucial for India in terms of manufacturing. From 1991 to 2000 the focus was mostly on services. The emphasis should now be on manufacturing. 

India’s prospect in the global space

Indian businesses have traditionally fared well in the global space. If we see Indian companies rank high among the Top 100 or Top 500 global companies. India has groups that are multinationals in the true sense of the word but with Indian origins such as Mahindra, Tata, Jindal, Adani, and Vedanta, etc. Given the expansion spree of Indian companies, Indian groups are poised to take on the globe right now. 

PSUs in India are also poised in playing a bigger role in this target. For instance, mining companies can go out and seek opportunities elsewhere. We should look outwards now than inwards. ‘Aatmanirbhar’ is not just about being self-reliant, the true success of ‘Aatmanirbharta’ lies beyond self-sufficiency in producing goods for the domestic consumption but also being able to export, go and grab prospects and opportunities in the world.

Read Full Article @ https://www.themachinemaker.com/ravibollina/industrialist-role-indian-economy-ease-of-doing-business

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Savita Dahake
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