Page 27 - NIS English 01-15 May,2023

Self-reliant India: 3 years of success Nation

instead concentrate on the service sector. Under
the new leadership, India is improving its service To fulfil the dream of making the 21st
sector while also expanding its manufacturing century India's century, we have to move
sector. No country can advance solely by
expanding its service or manufacturing sectors. forward by ensuring that the country
As a result, India has opened up space, defence, becomes self-reliant. The meaning of
drones, mining, coal, and many other sectors to self-reliance has changed in the globalised
its entrepreneurs through the Atmanirbhar Bharat world. When India talks of self-reliance, it
initiative, resulting in a new wave of employment does not advocate a self-centred system.
opportunities. As a result, India has emerged as an India's progress has always included the
attractive investment destination.
The economy, infrastructure, system, vibrant progress of the world.
demography, and demand have been identified as - Prime Minister, Narendra Modi
the five pillars of a self-sufficient India. While the
economy ensures quantum leaps, infrastructure
has been projected as India's defining feature. The
system is being linked to 21st century technology,
making vibrant demography India's energy, and
harnessing the power of demand and supply to its
full potential. The impact of the reforms on these
identified pillars is now clear.

India's exports reach their highest
level in 75 years
In its 75th year of independence, India has
achieved the highest level of self-reliance with
exports reaching 750 billion dollars. This figure
was 500 billion dollars in the fiscal year 2020-21. Self-reliance in the defence sector, with the
The government has spent the last nine years highest level of defence exports
laying the foundation for the economy's smooth India is emerging as a major exporter as it moves
and sustained growth over the next several years. towards self-sufficiency in the production of defence
The government's effort to make India self-reliant equipment. In the fiscal year 2022-2023, India set
is not about closing doors, but about expanding a new record for its highest-ever level of defence
them in order to have competitive and comparative exports, which increased to Rs 15,920 crore. This
advantages dictate international trade. "This is the is a Rs 3000 crore increase over the previous year
spirit that will make India self-reliant in the coming and more than ten times the figure for 2016-17.
times," Prime Minister Narendra Modi said of the PM Narendra Modi said of this accomplishment,
achievement. "Excellent! It exemplifies India's ingenuity
According to Union Minister of Commerce and enthusiasm for "Make in India." This also
and Industry Piyush Goyal, India's strong demonstrates that the reforms implemented in this
macroeconomy, robust foreign exchange reserves, area in recent years have yielded positive results.
relatively low inflation, and entrepreneurial spirit Our government will continue to support efforts to
have brought together the domestic ecosystem turn India into a defence manufacturing hub."
to not only replace items from the import basket
but also achieve economies of scale and compete GST revenue of Rs 18.10 lakh crore
in the international market under Prime Minister The Indian economy is improving. Due to increased
Modi's leadership. production and consumption, the GST collection

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