The Economic Times
English EditionEnglish Editionहिन्दी
| E-Paper
Search
+

    Atmanirbhar Bharat provides vision of India's plans to become USD 5 trillion economy: MEA official

    Synopsis

    In his address to the Indian Chamber of Commerce (ICC) at India e-biz Expo 2020, MEA Secretary (CPV&OIA) Sanjay Bhattacharyya said COVID-19 was an unprecedented disruption, at all levels, across the world.

    India provided emergency medical supplies to several countries and deployed medical teams, emerging as the first provider of humanitarian assistance to COVID, Bhattacharyya said.
    NEW DELHI: Atmanirbhar Bharat provides a vision of India's plans to become a USD 5 trillion economy by promoting 'Make in India - Make for World' and this will happen through an integration with the global economy, a senior official of the Ministry of External Affairs said on Saturday.

    In his address to the Indian Chamber of Commerce (ICC) at India e-biz Expo 2020, MEA Secretary (CPV&OIA) Sanjay Bhattacharyya said COVID-19 was an unprecedented disruption, at all levels, across the world.

    "It was not only a health crisis but it also imposed socio-economic challenges. Global economy slumped, social interaction was curtailed and individuals were fearful. It was imperative for the global community to coordinate efforts in the fight against coronavirus," he said in his address on 'Leveraging Business Opportunities in a post-Covid Scenario'.

    India cooperated on repatriation of stranded citizens, in both directions and facilitated the return of over one lakh foreign citizens to their homes, he said.

    "Vande Bharat Mission, the largest repatriation exercise, which brought back 30 lakhs stranded citizens, was possible because of the active support from partners across the world," he said.

    India provided emergency medical supplies to several countries and deployed medical teams, emerging as the first provider of humanitarian assistance to COVID, Bhattacharyya said.

    "Thousands of Indian healthcare professionals went overseas to help them address the challenges of COVID. We strengthened cooperation in COVID research and testing. We stand ready to support in vaccine availability from India, as we will be the largest producers, once the vaccine is approved," he said.

    Bhattacharyya said that as business leaders give shape to India's economic engagement, the key opportunities will lie in, among other things, Atmanirbhar Bharat which provides a vision of India's plans to become a USD 5 trillion economy by promoting 'Make in India - Make for World'.

    "This will happen through our integration with the global economy. The thrust will be on joint ventures in infrastructure and manufacturing, integrating into supply chains and tapping sovereign wealth funds," he said.

    Bhattacharyya said new emerging technologies, especially in ICT, consultancy, fin-tech, logistics, edutech, healthtech, biotech and others also have enormous potential.

    High technology cooperation, especially in defence and space has potential to be stepped up, he said.

    Bhattacharyya asserted that Indian business must venture into less-explored markets, which can yield greater dividends.

    "High-level exchanges between India and our growing circle of partners have promoted deeper understanding and cooperation. This is an opportune moment for the business community to develop deeper links, based on each other's national priorities and development plans," he said.

    "We are engaged in reforms and transformational changes in our economy, there is strong political understanding with foreign partners and traditional goodwill between the peoples gives more wind to the sails. This is the equivalent of a 'sweet spot' to change the nature and scale of our economic engagement, to new heights," the MEA official said.
    (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Also Read

    9 Comments on this Story

    Dillip Patnaik1 day ago
    5 trillion economy is just day dreaming. In 2019 India was 138 in GDP (gross national per capital) 5,000 dollars per head annual income. India is very poor country. For 7 years India’s industrial production and growth is very low. The government is producing fake statistics to avoid failure and to please BJP followers. INDIA never can be Atmanirbhar under fake leadership.
    Sankar N2 days ago
    With with growth rate of -25% GDP, we are now not even a 1 trillion economy...all thanks to disaster of prolonged lockdown driven by madness of illiterate jumla government...hardly a rupee has been given for the benefit of middle class...Manufacturing & critical sectors of manufacturing are far away from beings even setup or established on large scale by government...all talks, but on ground, everything has failed...collapse & disintegration of this country is inevitable...all thanks to disastrous policies of economic destruction implemented by this government...Administrative & Political reforms are never talked about but unless that happens, nothing will ever change...5 trillion is pipe dream..massive corruption by government, mismanagement, bureaucracy, babudom has destroyed the country...nothing remains..
    Anoop Aggarwal2 days ago
    Very uphill task!!
    The Economic Times