Make In India
Corona virus crisis will reignite the local businesses, as economy can not rely on imports. India imports most of its industrial products…
Corona virus crisis will reignite the local businesses, as economy can not rely on imports. India imports most of its industrial products from China.
India’s top ten imports are:
Mineral fuels including oil: US$168.6 billion (33.2% of total imports)
Gems, precious metals: $65 billion (12.8%)
Electrical machinery, equipment: $52.4 billion (10.3%)
Machinery including computers: $43.2 billion (8.5%)
Organic chemicals: $22.6 billion (4.4%)
Plastics, plastic articles: $15.2 billion (3%)
Iron, steel: $12 billion (2.4%)
Animal/vegetable fats, oils, waxes: $10.2 billion (2%)
Optical, technical, medical apparatus: $9.5 billion (1.9%)
Inorganic chemicals: $7.3 billion (1.4%)
As per The Hill: Who do you turn to next? And maybe, just maybe, doesn’t it make more sense to have a supplier or two here in the U.S., or at least in a less menacing or antagonistic country than say…China? Of course it does, and if anything we should be grateful to the coronavirus for reminding us that we shouldn’t build our businesses around a single source of supply from a single country.
Make In India’s time have arrived not just as an Idea, but as a necessity. While startups innovate and launch new products, small businesses can focus on industrial products.