ATMANIRBHAR MISSION (Syllabus: GS Paper 3 – Economy)

Context: The Indian steel industry has expressed concern over India becoming a net importer of steel in 2023-24, saying it is a "warning signal" for the country which strives to become Atmanirbhar.

Atmanirbhar Mission

• About: It was introduced in May 2020, aims to bolster India's self-reliance and revive its economy amidst the challenges posed by the COVID-19 pandemic.
• Objectives:

oPrioritizing local manufacturers and service providers to enhance their competitiveness.

oAddressing trade deficits and balancing payments to uplift the standard of living.

oStriving for self-sufficiency in all aspects for both the nation and its citizens.

oPositioning India as a global supply chain hub to attract investment and boost exports.

oIncentivizing small businesses and farmers affected by COVID-19 through special funds.

• Features:

oEconomic Self-Reliance: The Atmanirbhar Bharat Abhiyaan aims to promote economic self-reliance in India, reducing dependency on imports and bolstering domestic production.

oIndustry Support: It provides support and incentives to various industries, encouraging them to enhance production capacities and competitiveness.

oPolicy Reforms: The initiative involves significant policy reforms to streamline regulations, attract investments, and foster a conducive business environment.

oTechnology Focus: Atmanirbhar Bharat emphasizes leveraging technology and innovation to propel growth across sectors, fostering indigenous technological capabilities.

oGlobal Trade Impact: While promoting self-reliance, it also addresses concerns and implications for global trade partners, prompting discussions on international trade agreements and partnerships.

• Focus Pillars:

oEconomy: Striving for a quantum leap to convert challenges into opportunities.

oInfrastructure: Building modern infrastructure to shape India's identity.

oSystems: Embracing 21st-century technology for efficient systems.

oDemocracy: Focusing on a vibrant and healthy democratic setup. & Demand: Utilizing the demand and supply chain strength intelligently to drive growth.