A New Global Order ?

Having seen the bitter implications of the globalisation in the current crisis, the events may compel the nations to look inward for self reliance in vital areas and new trade alignments may unfold.Nations may dig deep into the causes for the outbreak from the epicentre in China and if an iota of evidence supports an unpalatable link between the cause and effect for the outbreak, the second largest economy may experience a severe backlash from other major economies and this too helps paving way for a new global order.

However, as every cloud has a silver lining, there is still a ray of hope for India amidst the apparent global scenario of gloom and doom which is, the way we can take advantage of the situation.With the second largest working group population and third largest scientific and technological manpower in the world, we can redirect our efforts to usher into a stronger nation by concentrating on indigenous production be it in defence or essentials such as APIs (raw materials ) for drugs, mobile accessories,auto ancialliares,textiles ,agri products,medical equipments and so on, which would generate employment,give a new breath for the manufacturing sectors and reduce imports bills and help boosting exports.The way companies like Mahindra and Maruti offered to make ventilators, that too at much much lower cost, organisations like ISRO, DRDO,and institutes like IITs ,IISc, etc coming forward and playing major role in manufacturing of medical equipments, accessories and the much needed personal protective gear are mind blowing revelations of a vast pool of manufacturing potential besides their proven parent activities and lying untapped,,relying on imports.The true meaning of Make in India must translate in to and transform, the manufacturing activity and the nation must change its status from an importer to that of an exporter in vital areas.An enviable economic growth can only ensure protection from wicked and crocked neighbours !

My next post at 8 am tomorrow

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