Atmanirbhar Bharat - Boost For Manufacturing Industry In India
                     Atmanirbhar Bharat - Boost For 
Manufacturing Industry In India
Neel Rao
Writes on Reitzindia Industrial centrifugal fans & 
Reitzindia industrial centrifugal process fans.
Introduction
The Indian government has launched the 'Atmanirbhar Bharat' policy, which means 
'self-sufficient India' or 'self-reliant India'. This scheme aims to make the country a 
more significant part of the international economy. Under this policy, the industries 
would pursue efficient policies to become self resilient and competitive.
This would help India to become self-generating and self-sustaining. This would have 
a positive impact on India's ability to recover from the Covid-19 crisis and the 
eventual economic fallout. Therefore, it is crucial to boost the Indian industries, 
making government interventions and reforms to make them competitive.
Manufacturing Amidst Covid-19
India has so far faced the pandemic with self-reliance. This is reflected from the fact, 
that before March 2020, the country did not produce any PPE (Personal Protection 
Equipment). However, the country is presently producing around 2 lakh kits daily. Of 
course, India has gained self-reliance through its indigenous industries. In just three 
months, the PPE industry in India has assumed the size of INR 10,000 crore, and it is 
the second-largest in the world after China.
Government Reforms For Better Business Environment
The Government has consistently worked to ensure a sound business environment 
in India. Besides, it is working on the Ease of Doing Business Reforms, which would 
ensure fast disposal of business disputes, seamless property registration, and a 
simpler regime of tax. All these measures would foster a better business 
environment in India.
Automatic Loans (Collateral-Free) For MSMEs
The government has helped the MSMEs to restart the business, providing them with 
emergency credit lines. This amount is up to 20% of the overall outstanding credit, 
as recorded on 29th February 2020. Borrowers having a turnover of INR 100 crore 
and an outstanding of INR 25 crore are eligible to get this loan. These loans come 
with a tenor of 4 years. The moratorium on repaying the principal is 12 months. The 
NBFCs and banks get a 100% credit guarantee cover on interest and principal. This 
loan is likely to benefit as many as 45 lakh units would be available till October 21, 
2020. The government's credit guarantee to the bank ensures that if the MSME 
falters, the government would pay the loan amount.
The Manufacturing Sector Gets A Boost
The Indian government has urged the nation to purchase products that the Indian 
companies have manufactured locally. Therefore, the domestic manufacturing sector 
would benefit in the coming years. Besides, innovation in India's manufacturing 
industry is likely to boost India's growth. The pandemic has created uncertainty. For 
India, the allocation of a relief package presents different verticals with numerous 
opportunities. The ultimate goal is to strengthen domestic manufacturing, taking 
local products to the global level.
For example, India has now banned importing incense sticks to boost the industry in 
India. Besides, the government has restricted the import of colour TVs and rubber 
tyres. Some policy reforms at the broader level were revised for sectors like mineral, 
coal, mining, civil aviation, and defence. This would also attract foreign investments 
in the country.
Conclusion
The manufacturing sector in India has responded speedily to products related to 
Covid. With the right steps, the MSMEs can get a boost, which would eventually 
strengthen the entire economy. A strong economic success is awaiting the nation in 
the coming years. The Atma Nirbhar Bharat Abhiyan would make India self-reliant, 
besides boosting exports.
About REITZINDIA
Reitz India has set a benchmark to deliver high quality fans for heavy duty industries 
which can work at precise operating conditions like high temperatures and pressures. 
Reitz offer idealistic Centrifugal Fan and Centrifugal blower design that can be used in 
all large scale process industries like cement, iron & steel, power plants, fertilizers/ 
chemicals and more.
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