The year 2020 will be etched onto the human minds for generations to come. This year will be remembered because of a single microorganism that wreaked havoc in the entire world and brought it to its knees. The coronavirus or the COVID-19 virus not only took the lives of millions across the world but also brought the economy to a halt. Drastic measures were taken by countries across the globe and economic packages were issued to bring the economy back on track and India was no exception to it.
On May 12th, 2020, Prime Minister Narendra Modi urged the citizens of India to concentrate on making the country “Atmanirbhar” or self-reliant. The idea of Atmanirbhar Bharat will not only focus on reviving the Indian economy post this pandemic but will also set the base for India’s domination in the world economy in the 21st century.
During all these years, the idea of the “Make In India” initiative was never underlined as strongly as it is being done in the current coronavirus crisis. What led to this sudden change in mentality? The COVID-19 virus originated in China as it reported the first case of the COVID-19 virus in December 2019 after which it slowly started spreading in the entire world. Fast forward to six months later, the Chinese economy is almost back to normalcy while the world is still struggling with the pandemic. This made the world think if China can do it, why not us?
One of the benefits that China had earlier was that many reputed multinational companies had their manufacturing units located in this country. However, the global pandemic made them realize that it is time to move their setup from the Chinese market and settle somewhere else where there are resources to rebuild their empire. India is a country that can make this possible for those companies.
India can definitely create an ecosystem that can woo companies leaving China. India has the manpower and resources required for businesses to thrive and embark on the path of progress. Atmanirbhar Bharat focuses on creating job opportunities for the people of India and inviting global companies to set their base in the country. Promoting local vendors and businesses, educating them, and providing proper skillset to the workers are also some of the key areas the government is looking into in order to ensure the success of this campaign.
The Indian retail sector has already made its mark on the global economy and has proved its potential every time. E-commerce portals like Amazon and Flipkart are already flourishing in the Indian market as the local vendors are ready to grab every opportunity that comes their way. The Atmanirbhar Bharat Abhiyaan is aimed at strengthening these local industries that have taken a hit in the global pandemic and get them running like before.
In accordance with this Abhiyaan, the state of Gujarat has pledged to give guarantee-free loans of Rs 1 Lakh at 2% annual interest to the weaker sections of the society and small vendors to empower them in this crisis. Even the youth of the country are creating social media campaigns that promote the idea of “Self-Reliant India” and are urging other youngsters to stop using products made in other countries.
With the above said, it is but obvious that the digital marketing sector is witnessing noteworthy amounts of change too. Website designing is getting more demand as Indian companies look forward to considerable growth. Online selling, both independent and through online marketplaces, is going to be a norm for industries even in the SME sections.
The most important change has been noted in the tendency of online shoppers as they enquire about the manufacturing centres and confirm the “make in India” tag of the products they choose to buy from online marketplaces. Online shoppers have started promoting products made in India by writing reviews about them and referring those products to their friends and relatives. This step is very significant because it is the customer who forms the base of the market and economy. The customer is King and his opinion matters most. When customers shift their priorities to Indian manufacturers, it is evident that the industry will also have to shift. Following the same, it is not surprising that Indian smartphone companies like Lava, Xolo, Micromax, etc have started making smartphones with top-notch features and are selling them at affordable prices to attract the modern crowd.
An eye-opener for the Indians came when the central government was in desperate need of funds to tackle the coronavirus crisis and no foreign company came forward to assist the country. It was the Tata group that pledged Rs 1500 crore, Wipro pledged Rs 1125 crore and Mahindra & Mahindra offered to use its manufacturing units to make ventilators. Such generous donations from these Indian companies made people realize that you cannot rely on foreign companies in times of need. This made them understand that buying a vehicle from Tata rather than Mercedes in the future will not only empower the company but also the country.
Self-sustainable India is the need of the hour. Gone are the days when India used to depend on other nations for its needs. This global COVID-19 crisis has changed the mentality of the Indian people and they have understood the importance of a self-reliant nation. If India does not deviate from the ideology of Atmanirbharta, then there is no force in this world that can stop it from becoming a global power in the years to come.