'Atmanirbhar Bharat' crucial for India to become industrial power: EAM Jaishankar

Union Minister of External Affairs S Jaishankar on Monday said the outlook of Atmanirbhar Bharat is so crucial for India that whether the country will become a first class industrial power or not depends on what is being decided now.

Speaking at the Third edition of the Deccan Dialogue hosted by Indian School of Business, Jaishankar said in the name of openness, India has allowed subsidised products and unfair production advantages from abroad to prevail and all the while, it was justified by the mantra of an open and globalised economy.

"Without exaggeration, what we will be deciding now will determine whether India will become a first class industrial power or not...The outlook of Atmanirbhar Bharat is so crucial.

This approach, instead of allowing others to decide our future prospects, is a case for building strong national capabilities and deep strengths, "he said.

According to him, success of the country should not have been determined by GDP growth rate alone as it should have equally taken into account the sustainability of the processes that had been entered, the employment consequences thereof and the all-round development of the society.

"We not only failed to develop the deep strengths that a large industrial economy like ours should have; we actually created an employment challenge by becoming over-dependent on imports.

And in doing so, we neglected what is my principal message to you today: adequate awareness of the world," he said.

On Covid-19 vaccine, the minister said the world is counting on India for accessible and affordable remedy.