The Indian economy is heading towards a better future that will be dependent on its own production capacity in almost every industrial, commercial, and agriculture sector. The PM Modi has given a speech to the Indians on 12th May at 8:00 p.m. He has announced about the 20 lakh crore economic package to revive the economy in COVID-19 outbreak for the reassurance of urgent need for financial support for workers’ wages in micro, small and medium enterprises.
So, what has been explained in the above paragraph are the known thoughts and trending news on the google and the backside of the story is that Indian economy is sufficient enough to fulfill needs of its people is clearly visible from this outbreak, where people are spending life with locals brands especially in terms of the food industry as the import activities are closed. India is a developing country and the move towards the “MAKE IN INDIA” initiative with this announcement is providing additional meanings to economic growth. The best example of this is “Khadi” which was prior in a decline stage but after the PM support to the industry, it has to gain the demand by the people and collaterally the graph headed up.
The need for the hour is to provide support to the Indian brands and businesses so that if any other situation like this pandemic will arise in the future countries will sufficient enough to fulfill its needs to the fullest. For the same PM Modi has given the term “Vocal to Local”, it means residents should market the nation’s brand for more reachability through the word of mouth marketing. The initiative is quite interesting and likely to give a potential result to the future of the Indian economy.
Thanks to all the readers!
In the meantime “Stay Healthy Stay Safe”