Published On: July 16th, 2020
Present China – India War Scenario
Owing to the Coronavirus outbreak, the present relationship between India and China is in crisis. Indians are now actively boycotting Chinese-made products and marching towards a self-reliant India. The recent news of the Anti-China protest, banning 59 Smartphone applications, including TikTok, WeChat, Helo, and CamScanner, was noteworthy. Following this, Indians are now moving back to the age-old traditional system of Swadeshi.
Many Chinese goods and services are getting substituted with Indian products. Prime Minister Narendra Modi’s “Make In India” initiative is hence slowly taking its place!
For Example, in the process of boycotting Chinese products, the Aero Group (Woodlands) is going to rework its business operation, in line with the Make In India campaign. The company is planning to increase production in India and reduce distribution with China and Bangladesh. The team is also extending its facilities by 30% every year!
From the above example, it is visible that we are moving towards the core of ‘self-reliant India’ and/or ‘Atma Nirbharta’. However, concerning The present India-China war scenario, the PM has formulated 3 specific concepts. He also recommends to consider them as the need of the hour. Let’s have a gist on those concepts and see how it will benefit households and worthy for budding entrepreneurs and students of India.
“Given the likely incentives for manufacturing for global markets, we will focus on producing most of our requirements here” stated Harkirat Singh, Managing Director, Aero Group
Present China – India War Scenario: INCORPORATING 3 SPECIFIC GOALS INTO THE NEW “MODI VISION”
The concepts framed by the PM may appear unique and different from each other. Yet, the interlinking factor between the 3 ideas is to turn ‘Make In India’ a successful program:
1. India has to move to the next level in terms of a higher inflow of foreign capital. To achieve that level, business Angel investors and professional venture capitalists (VCs) must raise funds within India. This way, even young startup founders, budding entrepreneurs, and students can have better capital schemes!
2. Irrespective of whether a product is manufactured in India or not, we must opt for local-made services. Encouraging the use of India-based goods and services is a direct strategy to make our nation self-reliant.
3. Indians must produce and manufacture their own products, instead of importing from other countries. It will help the majority of business partners to gain more clients and customers more than before! Moreover, it will also create new job opportunities for Indians. A German-based footwear brand already proved it from its recent relocation.
Present China – India War Scenario – EXAMPLE: VON WELLX
Von Wellx is a German footwear company owned by Casa Everz Gmbht. Recently, the brand has decided to relocate its complete production from China to India’s Uttar Pradesh. This way, Indians are going to be placed in more jobs than ever before. It is estimated that Indians will get impacted by 10,000 direct and indirect job options!
But, apart from the stated perks, the above-discussed measures will also increase our total economy. Concerning the 4th Tranche of Rs 20 lakh crore relief funds, the Indian Finance Minister Nirmala Sitharaman has said that the scheme will identify new scopes of development. And it will be in terms of:
- Recognizing the new Champion sectors such as Advanced Cell Battery Storage, Solar PV manufacturing, etc.
- Pumping in more investment schemes for enhancing the business opportunities for growth-stage entrepreneurs.
- Ranking the Indian states based on their investment attractiveness to achieve accuracy in financing aspects.
Following this, students and budding entrepreneurs should also be aware of the latest government project: The empowered group of secretaries (EGoS). It is an initiative in line with Make In India, to help in the development and formation stages of startups. The project will also detect business growth areas and provide investable cells from the support of various ministries! So, as per the current world scenario of India, business sectors are hence starting to revolve on their own axis.
“We are very happy to see that investment from Casa Everz Gmbh, which will be giving employment to so many people, is coming to India from China and especially to Uttar Pradesh,” stated UP’s MSME Minister Uday Bahan Singh.
Present China – India War Scenario : FINAL THOUGHTS
When budding entrepreneurs and students present ideas that promote the Indian culture and value, it will move us up from the 63rd rank (in 2019) within a few years! Moreover, entrepreneurs can reap great potentials from making use of government fund schemes and venture capitals that are offered with tax benefits. Post the India-China crisis and COVID-19 calamity, we are soon going to become an attractive, self-reliant destination for business ideas and investment platforms!
“Atmanirbharta is not just a dream, but a well thought of roadmap for the future ready India. We will have to strengthen our presence in making a strong public private partnership culture”, says G Krishan Reddy, Union Minister of State for Home Affairs
FOOTNOTES:-
India bans 59 Chinese apps including TikTok, Helo, WeChat
Aero to make more Woodland in India
Make in India: German footwear maker moves production from China to India; may create this many jobs
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