The pandemic this year made India realise the need for having strong local companies that could be shining beacons for billions of its countrymen as well as the world at large. With terms like Aatmanirbhar Bharat and Vocal for Local already being a part of our daily conversations, it is now time to separate the wheat from the chaff and recognise the true potential of Indian companies and help our champions rise to become world-beaters in quality and productivity.
RESILIENCE AND SELF-RELIANCE
It’s no secret that the economy is in deep crisis due to the coronavirus-induced lockdown early this year. It’s also no secret that the country is bouncing back on its feet with record speed – so much so that most rating agencies have revised their negative outlook and reaffirmed their faith in the country.
From the migrant crisis to farm-produce and industrial-scale issues, there have been a host of crises that the country has witnessed and bounced back from, most of it due to the resilience and quality of Indian companies that are pioneers in their sectors. Be it Bajaj Auto in the automobile space, Infosys in the IT space or ITC in the consumer space, these Indian companies have shown what it means to have the trust of the nation on their shoulders even as they emerge champions in their respective domains.
PM’S AATMANIRBHAR BHARAT PUSH
While India’s COVID-19 related economic package was being rolled out, Prime Minister Narendra Modi first told the country about Aatmanirbhar Bharat on May 12 earlier this year. Aatmanirbhar Bharat stands on five pillars that are stated as economy, infrastructure, technology-driven systems, vibrant demography and demand.
But being Aatmanirbhar isn’t being protectionist or isolating from the world. In fact, quite the opposite. The goal of Aatmanirbhar Bharat is to play a bigger part in helping skill up Indian workers and giving Indian companies the space to rise up the value chain.
PANDEMIC TO PLAN-DEMIC
To achieve success under Aatmanirbhar Bharat is to invest in key areas like skill training and R&D, steps which tap into the innate creativity of Indians, honed over years of dodging structural obstacles. Now, with those obstacles removed, their efforts can be utilized in innovating better and more efficient ways of doing business, while raising quality. After all, it was Indian minds at work that sent the Mangalyaan mission to Mars at a fraction of the cost of other similar missions.
When Aatmanirbhar Bharat leads to a rise in quality, Indians will increasingly start pitching for Indian products, starting a virtuous economic cycle. With Country of Origin now mandatory on e-commerce sites and Confederation of All India Traders (CAIT), the leading advocate for small traders and businesses in India, with around 6 crore merchants across 40000 affiliates, that choice is easy to make. And with the rising appetite of the world’s fastest growing large economy to fulfil, there is ample space for Indian brands who can produce quality at scale.
WHY AATMANIRBHAR BHARAT MATTERS
But there is a deeper emotional satisfaction that seeing Indian products make their mark brings. It reaffirms our belief in our finest qualities, and shows the world what we can do. It’s hardly a surprise that India has seen a boom in entrepreneurship, as a country of youngsters finds new role models in men who are first generation tycoons and modern faces of India Inc. And it’s safe to say, every generation of Indian achievers are adept on building on the successes of their predecessors.
SWABHIMAN BHARAT’S PLAN
‘Swabhiman Bharat’ is an initiative to amplify the call given by our PM of creating a ‘Self-Reliant India’. With an editorial philosophy to do a deep dive into the core fundamentals that define India’s quest for self-reliance, this thought leadership campaign highlights indigenous successes, seeks solutions and creates influential conversations around developing capabilities to emerge stronger as a nation. ITC presents Swabhiman Bharat, a Network18 initiative, brings out stories of world class Indian resources & talent, constructing powerful narratives of indigenous excellence, while also providing valuable insight into home-grown entities, individuals and establishments that are invested in India’s future and are shaping its growth story.
This is a partnered post.