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Showing posts from July 3, 2020

Essentials of becoming a self reliant country

Self reliance is the ability of being able to rely on oneself for one's needs. A country which is not self reliant is sometimes forced to do certain things against its will and principles simply because the benefactors have said so. Many Asian and African countries normally find it quite difficult being self-reliant. These countries largely rely on foreign donors in order to provide basic needs for their people.   In order to make India a truly self- reliant and self- confident, public investment in Education, Human capability and Research and Development has to increase. Opportunity for country like India is huge  in terms of wealth creation. That's the reason India is an attractive economy for investors. The parameters that convince to be self sufficient in the long term are Raw materials/input materials. India needs to incentivize its companies to take advantage, both for design and manufacturing. A smooth transition will be difficult in the short run. In the long run, ther