Aatmanirbhar 2.0 in works to cushion India against supply chain, energy Pain
Prime Minister Narendra Modi has instructed ministries and departments to assess the situation and prepare short-term and long-term sector-specific plans to reduce import dependency and ensure uninterrupted availability of critical materials.
India had announced various targeted interventions to ensure availability of various essential products and reduce import dependency during the Covid-19 pandemic as part of the Aatmanirbhar initiative.
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A key element of Aatmanirbhar 2.0 is increasing green energy, nuclear energy and thermal capacities to reduce India’s dependence on oil and gas imports, people familiar with the details said. The move followed a series of high-level meetings, including the cabinet’s security committee, to consider the implications of the Gulf war and the closure of the Strait of Hormuz.
The meeting of Cabinet Committee on Security (CCS) members was therefore expanded to include other ministers, a person familiar with the details said. The CCS, chaired by the Prime Minister, consists of the ministers of defence, interior, foreign affairs and finance.
The message from the highest level of government is to “go beyond firefighting and build structural resilience,” the person said. The strategy will closely examine exposure to imported materials.
‘Structural Resilience’
The move followed a series of high-level meetings, including the Cabinet Committee on Security (CCS), to assess the implications of the Gulf war and the closure of the Strait of Hormuz.
A person familiar with the details said the meeting of CCS members was therefore expanded to include other ministers. The CCS, chaired by the Prime Minister, consists of the ministers of defence, interior, foreign affairs and finance.
The message from the highest level of government is to “go beyond firefighting and build structural resilience,” the person said.
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The strategy will closely examine exposure to imported materials and steps needed to reduce exposure through targeted interventions, another person said. Ministries and departments will stock up and prepare plans.
India is dependent on selected chemicals, fertilisers, industrial inputs, rare earths and high-tech machinery, among others.
