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Will Atmanirbharta work for India?
- Arvind Subramanian & Shoumitro Chatterjee say – “Not really”
Note:
- Arvind Subramnium was the chief economic adviser to the Government of India in the recent past.
Two Reasons
- Is Domestic Demand enough?
- India is a $2.9 trillion economy which is fifth-largest in the world.
- If the domestic market is to sustain growth, we need to look at the demand in our market. (People who have purchasing power).
- In India, there are a lot of poor people with limited purchasing power and a few people with a lot of purchasing power.
- Middle-class market size is somewhere between 15- 40 per cent of GDP.
Two Reasons
- Will inward looking Policy work?
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