The statement made by External Affairs Minister S. Jaishankar on India’s economic growth not being built on Chinese efficiency highlights the need for India to focus on developing its own unique strengths and capabilities to drive economic development. With China emerging as a major economic and geopolitical competitor, India cannot afford to rely on copying the Chinese model. Instead, India must leverage its human resources, technology, and innovation to build a sustainable and robust economic model.
A crucial element of achieving this goal is the development of a strong domestic manufacturing sector with robust vendor chains. India must take proactive measures to create a conducive environment for businesses to thrive, including economic reforms that attract foreign investment and support the growth of small and medium-sized enterprises.
India’s relationship with China is complex, with the two countries sharing a border and competing for influence in the region. The recent border tensions have raised concerns about India’s reliance on Chinese imports and the need to reduce that dependence. Building a strong domestic manufacturing sector will not only reduce India’s reliance on Chinese imports but also create jobs and support economic growth.
Jaishankar’s statement highlights the need for India to focus on developing its own unique strengths and capabilities to drive economic growth. By building a robust domestic manufacturing sector with strong vendor chains, India can reduce its dependence on Chinese imports and create a sustainable and robust economic model. The Indian government must take proactive measures to create a conducive environment for businesses to thrive and attract foreign investment.