Authored by Suneel Dasari, CEO @ EZTax.in, Originally posted on May 05th 2020
March 30th, more than a month later, I am still hopeful to hear a plan from Indian leadership that finds opportunity in crisis of our generation. An opportunity that sets the direction for the future of India, progressive India, Advantage India, to showcase the confidence that India can stand tall for the world to provide & accelerate sourcing alternatives to China.
It is no brainer to understand the growing concern around the world for not having a viable sourcing alternative to China. Coronavirus COVID-19 made it quite visible on how dangerous it is to have a total dependence on a single country to source all its critical products, components and cheaper day-day goods. It is no wonder, world suffocated to find a protective gear as basic as a Mask for weeks during COVID-19 outbreak.
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India too had its extreme dependence on auto, electric, and electronic components, raw materials for bulk drug industries. Imagine importing basic mobile phones, CCTV equipment, valves, cast iron products. Interestingly Indian alloys, metals referenced in Vedas, not sure why India depend on any other country ? when the quality iron ore is being exported to China, labor looking for employment in India, mass land holdings unused for productive use in India.
It is interesting to see how a most populous country in the world with a population of 1.3 Billion listened to its leader to lockdown for more than six plus weeks (as on May 04th) for a self-quarantine to control the spread of COVID-19.
The anticipated advantage is a much needed and timely when losing the sheer from services sector that India enjoyed for more than two decades, growing unemployment .. isn’t it best opportunity to have more holistic approach for India’s inclusive growth and to be a true global producer that once was in the history ?
It is this time, I feel the greatest opportunity for Hon’ble PM Mr. Modi to draw attention from the nation to lay out a plan to promote local manufacturing and orient its people the real need for such. While no such plans published anywhere as on today, I like to highlight an 8-point action plan to take control of the situation and re-orient the Indian society towards an Advantage India.