ISO 9001:2015

GOVERNMENT INITIATIVE “VOCAL FOR LOCAL”: OPPORTUNITIES AND CHALLENGES FOR INDIAN ECONOMY

Dr. Bhavna Jain, Dr. Gourav Surana & Dr. Neelam Yadav

 

The "Vocal for Local" initiative, launched by the Indian Government in May 2020, aims to promote economic self-reliance and boost domestic manufacturing in the wake of the COVID-19 pandemic. This study examines the opportunities and challenges associated with this initiative and its potential impact on the Indian economy. The findings suggest that sustained utilisation of locally made products over the next 25 years could mitigate unemployment in India. However, effective implementation requires a proactive approach that incorporates lessons from the shortcomings of the previous "Make in India" campaign. The "Vocal for Local" initiative emphasises supporting domestic industries, mainly small-scale businesses, to reduce reliance on imports and position India as a global manufacturing hub. It aligns with the broader "Atmanirbhar Bharat Abhiyaan" (Self-reliant India campaign), focusing on five pillars: economy, infrastructure, system, vibrant demography, and demand. The initiative presents opportunities to boost local manufacturing, create employment, develop skills, and foster a startup ecosystem. However, challenges include infrastructure development, quality control, and addressing the informal sector. The study concludes that the success of the "Vocal for Local" initiative depends on refining its goals and policy frameworks while addressing the identified challenges to ensure sustainable economic growth and self-reliance in India.


DOI:

Article DOI: 10.62823/02.02.6716

DOI URL: https://doi.org/10.62823/02.02.6716


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