From Being an Elephant to being a Tiger(Part -II)

The Roar of the Tiger:

Companies have been moving out of China for a long time now. The Economic Survey of 2016-17 mentioned that India had an opportunity to take over the markets of apparels, leather and footwear, courtesy of increasing labour wages in China, leading them to lose market share in these productions. However, India failed to grab onto that opportunity while Bangladesh, Vietnam and Indonesia beat India to it. These economies seemed more appealing to businesses than India and this pattern may continue to follow unless ground level reformations are implemented.

First and foremost, the government needs to make appropriate changes to trade and business policies so as to allow ample leeway for international companies to invest more in the Indian market. Since long, foreign organizations have been imploring the Indian government to provide some leniency regarding many policies and regulations, but their requests were turned down. Perhaps, rightfully so, the government has valid reasons backing their stringent rules. It is unfair to blindly assign blame on the government. We, as a community, are partly responsible for it as well. Most of them boil down to the lack of integrity within our Indian mindset. Often, we do not even hesitate before taking misadvantage of a situation to fulfil our selfish desires. Businesses and individuals are constantly in search of possible loopholes in every system, be it from legally evading our taxes to intentionally exploiting an ambiguous policy. In every domain, our constant effort to manipulate the regulations to suit our needs is exactly what led the government to impose such harsh policies. So to cover all ill-intentions of unethical practices, stern business policies are implemented by the government.

It is essential that we as a community alter our mindset. Standard rules and regulations like hygiene, human rights, ethics, RTI, and similar, must not be mandated by the government for us to follow. It is because we refuse to follow even the basic requirements that there are such rules in existence, to govern us. And by us, I mean both businesses and end consumers, we the society.

Changing the mindset also implies that we need to subconsciously stop thinking as individual consumers and instead start thinking as responsible citizens aiming to revamp the Indian economy. As hardworking individuals, it is natural for us to opt for products and services that provide us value for money, which is why people have been inclining towards purchasing smartphones from Chinese manufacturers or preferring shopping online instead of local retailers. The government can implement proper policy reformations only if the entrepreneurs and businesses act responsibly and co-operate with them by complying with all regulations. Local mom-and-pop stores need to provide that high level of trust, value and convenience to their customers to compete with the rising e-commerce market. Lack of any of those factors will eventually lead consumers to look for better alternatives. Having said that, end consumers also need to support local brands and companies that will directly impact the national economy. To reiterate what Sonam Wangchuk said, we have to gradually phase-out all the equipment and goods that are manufactured in China (PRC).

Along with the Make in India programme, I think there should also be an exclusive 'Made in India' initiative, that would solely focus on exporting locally manufactured goods to the world. While the former currently emphasizes on a consumption-driven market, the latter can boost the global export of our economy. By bifurcating into two different categories, the government can redirect its resources to appropriate systems, thereby increasing the eventual outcome by manifold. This is merely what I wish for the government to look into. What can we as individual and communal consumers do to elevate our economy? Change starts from within and only by changing our mindsets can we expect relaxed policy reformations.

As individuals and as a community, we have to change ourselves, our mentality, our actions! Adhering to all rules, regulations and laws are a given, we are expected to do that by default. We need to look beyond that. Every time we blame the government, we also need to look in the mirror and ask ourselves, instead of waiting for them to respond, how can we personally and professionally, contribute towards the economical change. Our actions must inspire young minds to transform their consumerism into economic nationalism. Upholding the national economy over individual interests must take priority. Chanting and promoting 'Vocal for Local' aimlessly will reap no benefits, neither will revolting against high tariffs, taxations or price surges. We need to realize that only through our combined efforts can we upgrade our economy. Governments will keep changing, so will laws and policies, so just by relying on such matters is as good as living as ignorants and hypocrites.

Such changes and reforms may take time, especially considering how we, the 1.4 billion people, need to progressively modify our mentalities to encourage the government and thus inviting international markets to make their investments in our developing economy. Good things take time, in this case maybe even years or decades. I implore, to at least begin the initiation, take the first step towards it.

I liked the idea proposed by Sonum Wangchuk and feel that what he mentioned is achievable. We need to root for local entrepreneurs, startups, products and more than anything we need to root for Indians and with an honest intent.

Government is doing their bit by drafting policies, striking strategical alliances with developed economies and hopefully relaxing regulations. But we as individuals has more power than any government can and therefore we can drive the change together such that our Roar is heard by the world.