From ‘Make in India’ to ‘Buy in India’: The New “Swadeshi” Economic Push

Modi’s New “Swadeshi” Push: Why It’s More Than Just a Slogan

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PM Modi’s latest call for Indians to embrace “made in India” products, or ‘swadeshi‘, marks a significant shift in his administration’s economic strategy. While previous initiatives like “Make in India” focused on attracting manufacturers, this new push targets consumers directly, urging them to choose local goods. This focus on boosting demand is a key difference and comes at a critical time amidst rising trade tensions with the US.

What’s New About This Call?

1. From Supply to Demand: Unlike past programs that offered incentives to producers (supply-side), this new message is a direct appeal to the consumer to buy local products. The goal is to create a strong domestic market to support Indian manufacturers, including small businesses.
2. A Response to Global Trade Tensions: The call is strategically timed to counter the potential hit to India’s exports from tariffs imposed by the US. By strengthening the internal market, India aims to build resilience against external economic pressures.
3. Part of a Coordinated Economic Strategy: This “swadeshi” push isn’t happening in isolation. It’s paired with recent government actions designed to boost consumer spending, such as new income tax and GST cuts. This combined approach aims to stimulate the entire economy.

Why Does It Matter?

• Boosting Manufacturing: India’s manufacturing sector has seen its contribution to GDP decline in recent years. By encouraging consumers to buy local, the government hopes to reverse this trend and create a more robust manufacturing base.
• Supporting Small Businesses: The appeal is as much for India’s micro, small, and medium enterprises (MSMEs) as it is for large companies. It encourages them to produce quality goods that will win over consumers and help them compete.
• Building Economic Resilience: A strong domestic consumer market can help shield India from global trade shocks. It reduces reliance on exports and makes the economy more self-sufficient, a key goal of the “Aatmanirbhar Bharat” initiative.