Topic: Changes in industrial policy and their effects on industrial growth.
Q5. Evaluate how India’s policy shift towards self-reliance has influenced the country’s economic resilience and industrial competitiveness. (10 M)
Difficulty Level: Medium
Reference: TH
Why the question:
One of the key factors driving India’s economic expansion is its rapid industrialisation and policy shifts toward self-reliance.Key Demand of the Question:
The question requires an evaluation of how self-reliance policies have influenced India’s economic stability and industrial growth while also addressing key challenges hindering these outcomes.Structure of the Answer:
Introduction:
Begin with a strong fact or data point highlighting India’s economic growth trajectory linked to self-reliance policies.
Body:
- Economic Resilience: Discuss points like reduced import dependency, improved supply chain stability, forex reserve growth, and job creation.
- Industrial Competitiveness: Cover aspects such as improved manufacturing capacity, rising exports, R&D advancements, and MSME growth.
- Challenges: Mention issues like technological gaps, infrastructure limitations, regulatory bottlenecks, and skill deficits.
Conclusion:
Provide a solution-oriented conclusion emphasizing the need for technology partnerships, skilling initiatives, and infrastructure development to strengthen India’s self-reliance strategy.
