Coronavirus acted as an eye-opener for the nation to become independent. Confidence is vital for the Indian economy to determine the issues and to get a handle on the chances of an arising post-COVID world. Also, for this reason, it frees Indian business and development from bureaucratic hindrances. “This is about decentralizing localism that takes pride in local brands, emphasizing resilience and flexibility, and encouraging local capacity-building and indigenization.”

India has consistently kept a Trade deficit because of which it is hard to acquire protectionism India. In our country, domestic production couldn’t provide food for the domestic interest. Foreign Trade Act, 1992 was acquainted with being a forward leap in the financial advancement of the country especially in the world of globalization. Even after that “Make in India” was focused on by Prime Minister Modi because it is requisite to decrease the dependency on other countries for import and to create domestic production capabilities and absorb supply chain stock, especially during the pandemic situation.

A major issue that creates hindrance in manufacturing in the country is restricted labor laws, high costs, and low availability of land due to the large population. But for achieving the goal of self-reliance Substantial workforces, have frozen major labor laws, in the hope that businesses will reimburse for the blow of the Covid-19 pandemic. It is estimated that nearly 30 percent of low-tech imports from China can be replaced by local manufacturers in India if the right opportunity and resources are given to them. India has effectively forced a high customs duty on imports of cell phones and their parts because of which a few organizations are compelled to set up assembling offices in India. The public authority has decriminalized company law to assist organizations with growing 10 public sector banks are converted into four to further develop proficiency and address the issue of developing non-performing assets. India will become independent and for that India is now expanding the tariffs and is continually inspiring individuals in the nation to create more merchandise. Not only this but the government has encouraged the private investment in the coal and mineral sector due to which the transparency, competition will increase because of which productivity in India will also increase. Though it would take some time to make import driven country as self-driven one day. India will become self-sufficient soon as it has already started increasing the tariffs and is constantly motivating people in the country to produce more goods.

Prime Minister Modi in his “Mann ki Baat” always boosts up the morale of Indian citizens for their hard work and creativity. Even in rural areas, people are trying to produce goods with organic methods. But there are some shortcomings. The laws which changed during lockdown like the Code of Wages are suspended and the Payment of Wages Act is canceled, makes issues for the laborers of the nation as there is no legal commitment for the industrial facilities and foundations to give convenient wages to their workers. Also, many laws are repealed which are violative of the international framework of the labor laws. Some states have illegally exempted them from the factories act. “MSME to assuage India’s economic predicament amidst the pandemic.” However the public authority has given a simple loan facility to the MSME area, it can make a major issue in credit recuperation later on numerous MSME can become bankrupt, and furthermore the essential construction of MSME isn’t changed subsequently going about as a plague for this area.

As tree’s magnificence lies in its branches, yet its solidarity lies in its foundations similarly nation can develop through an expansion in unfamiliar direct venture yet up-degree and present-day procedures should be presented in India. Advance the Indian business by making them serious through changes and intercessions. FM Seetaraman said that self-dependent India doesn’t imply that India will turn into an independent country, the fundamental point is to make changes that can further develop simplicity of working together, incorporating for unfamiliar firms in the country. The items which were made in India required crude material from different nations which expanded the reliance on sends out and many assembling organizations shut down in light of the fact that creation done by them was costly when contrasted with imports. So government should reestablish these types of companies and should provide them with the minimum production cost of the products. Government plans of strengthening infrastructure logistics and capacity building can help to make India a self-reliant country only if it is properly implemented in the country. Economies of scale ought to be embraced so that expense of creation can diminish consequently prompting more noteworthy speculation, setting out business open doors, and situating India to exploit disturbances in worldwide inventory chains. And people should be encouraged to choose locally made goods and reduce the craving for foreign brands. The government can encourage local construction companies to take up the infrastructure building challenge on a massive scale, instead of depending on the foreign firm. 

The development of the Covid-19 pandemic tried us all, from independent companies to enormous enterprises. However it has left us gazing at a dubious future, it likewise gives us a chance to construct an independent and confident India. India dispatched the world’s greatest immunization drive against novel Covid with two natively made antibodies on 16th January 2021 and it expects to vaccinate around 300 million individuals by July this year. India is driving the battle against Covid-19 with this inoculation drive and is on its way towards confidence and independence.

India’s potential and shrewdness will empower its vision of one of the most attractive investment destinations efficiently and equitably. For further developing creation ability intense changes like inventory network changes, tax assessment framework, basic and clear laws, effective HR are required. The public authority needs to focus on things for the production of long-haul economical resources by decreasing indefinite quality between the country and the idea of self-reliance. India’s meager public expenditure should be spent on education (as against the latest things of privatization which would just shrink access), remembering for expertise improvement. No nation has accomplished self-reliance without mass quality state-funded education. Furthermore, no nation has been created without a lot more grounded general wellbeing framework than what we have in India, so educating people is very essential for the development of the country.