What is Atmanirbhar Bharat

Context: Self-reliance does not imply import substitution or autarkic isolationism (license-permit raj and inspector raj) but it is about participation in global supply chains (FDI) and emphasising resilience and flexibility in local capacity building and indigenisation.

The implication of Atmanirbhar Bharat or Self Reliance

• Promoting: Entrepreneurship and innovation free from bureaucratic hurdles.
• Decentralised localism: pride in local brands, emphasizes resilience, flexibility, and encourages local capacity-building and indigenization.
• Leveraging: internal strengths, personal responsibility, and a sense of national mission (or “Man-Making” an expression used of Swami Vivekananda)

• like liberalization of the agriculture sector (scrapping of ECA, APMC) enables localized decision-making and the ability to participate in a national common market and global market.

• Flexible product and factor market: to adapt to the problems of an emerging post-COVID world

• Privatisation of non-strategic public sector entities, decriminalisation of corporate law, flexibility in labour laws.

• Commitment to resilience at multiple levels: at the national, industry, and individual level: 

• Like incentives and protection to key industries (API, defense procurement)
• Creation of safety nets for individuals (health insurance system, direct benefit transfer mechanism).

Conclusion: Atmanirbhar Bharat with decentralised and self-reliant economic entities requires generalised system of social trust and the ability to enforce contracts through administrative reforms (legal system, rules, regulations, policing, investigation).