NEW DELHI: Vice-President Jagdeep Dhankhar has called for a shift towards economic nationalism, urging the industry, trade, and commerce sectors to prioritize local production and reduce avoidable imports.
According to the Vice President’s Secretariat, Dhankhar underscored economic nationalism as a key element of the Swadeshi movement and the “Vocal for Local” campaign, pointing out the adverse effects of unnecessary imports on the economy. These include draining foreign exchange and hindering job creation for Indian workers.
“Our reliance on imported items like carpets, garments, and toys is not only sending our foreign exchange abroad but also impeding the growth of domestic entrepreneurship,” he noted. He urged industries to focus on local production to generate employment and promote entrepreneurial growth within India.
At the Swarna Bharat Trust, Venkatachalam, Dhankhar stressed the importance of responsible natural resource use, advocating for consumption based on necessity rather than financial power. He warned that excessive resource use driven by economic strength poses a significant risk to future generations. “If we spend unnecessarily based on the power of money, we are putting the future generation in danger,” he said.
Dhankhar also expressed concern about the export of raw materials like iron ore without value addition, stating that it not only limits job creation but also weakens the national economy. “It is troubling to see our iron ore being exported without any added value. We must not prioritize quick financial gains over long-term national interests,” he emphasized.