India is adopting new steps to revamp its economy by closely watching the global changes in terms of strategy-wise, politically, and economic changes. Rahul Chhabra, Secretary (ER), Ministry of External Affairs, in an interactive session conducted by PHD Chambers, themed “Role of Indian Economic Diplomacy in Making India Self Reliant’ said in his statements that keen focus is given to increase the income of small farmers, also focuses on MSME and enhance public partnership and self-reliance.
While the participants of the virtual interactive session were keener on looking forward to ways to strengthen bilateral economic activity in the post-COVID-19 world. The main objective was to understand the role of Economic Diplomacy in molding and helping India to be more self-reliant and making responsible power.
Rahul Chhabra said that much effort is taken to involve the private sector to bring up global solutions for new arising problems, besides making efforts to be the pharmacy of the world by sending medicines and devices to countries around the world. Plans to universalize the engagement with the International Solar Alliance. Also to upgrade the current associate status through partnerships in the future.
Secretary said, now Indian companies are allowed to venture in new countries and display their expertise in planning, designing, and execution of projects when discussions about 300LOC projects worth millions of dollars being given to several countries.
To promote tourist traffic to India, efforts are taken by Indian Missions also to promote India as a reliable country for low manufacturing costs. Different sectors like electronics, engineering design, are critical sectors capable of developing new cost-effective products.
To successfully fulfill our objectives of national security as well as to address the transformations occurring in the country due to COVID-19 impact, economic diplomacy has become an essential part of India’s economic policy, for India to be self-reliant amidst the situation, Dr. D K Aggarwal, President, PHDCCI said in his talk.