A STUDY OF EMERGING ECONOMY IN THE ERA OF VOCAL FOR LOCAL ECONOMICS PRINCIPLE

India is MSMEs oriented economy. During pandemic situation MSMEs plays significant role in providing employment and revenue. To recognise hon”ble prime minister appeals local for vocal has  brought confidence in Indian brands to prove their mettle in Global market . to keep pace of Economy Government has declared Rs 20 lakh crore stimulus package to  benefit MSMEs and to  create  start up ecosystem.  The present government self reliant economy with the The  objective of “Atmnirbhar Bharat”  is to promote local brands , supply chain, indigenous technology to achieve US $5 trillion economy. so many multinational companies compel to change their marketing , sales, product  strategies to compete with local brands

Purpose – About 54% manpower is youth. This committed manpower is to build new age economy through various mode like. E- Commerce, online trading, teleshopping, web technologies. but prime profit driver product is indigenous product it is estimate that by 2025 the E-commerce market will be Rs 25 million . the prime contribution in economy comes from MSMEs. so new Era of emerging economy is local manufacturing products

Design/Methodology/Approach– The Research design is  both descriptive/exploratory   based on secondary data which is collected through various publish sources like journal, news paper ,annual report. Since there is more than two variable. the researcher used linear/ multiple  regression equation

Findings – to achieve the objective of “Atma Nirbhar Bharat” and importance of  vocal for local the Government must Restructured Regional imbalance through different Government policy like vocal for local and Rational  stimulous package,

Research limitations/implications – though This present study gives insight views of future and sustainability of MSMEs product but this research paper uses publish data ( annual report )  which might be different collect data from various agencies 

Originality/Value –this paper is based on publish data .but all the computation is original through various  statistical tools.

               

KEYWORDS: Indigenous, Import Orientation, Balance of Payment, Re-Export.


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