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Former RBI Governor C. Rangarajan has called for an efficient import strategy in light of global disruptions affecting supply chains.
Speaking at the ICFAI convocation, he emphasized the importance of import substitution without compromising efficiency, warning against the pitfalls of excessive self-sufficiency. Rangarajan's remarks highlight the need for India to adapt its import policies to ensure economic resilience while fostering sustainable growth in the face of international challenges.
Citations:
[1] https://www.devdiscourse.com/article/education/3040790-rbi-ex-governor-urges-efficient-import-strategy-amid-global-disruptions
[2] https://www.business-standard.com/economy/news/atmanirbhar-shouldn-t-lead-to-inefficient-import-substitution-ex-rbi-chief-124080300633_1.html
[3] https://www.outlookbusiness.com/news/atmanirbhar-should-not-degenerate-into-inefficient-import-substitution-former-rbi-chief
[4] https://www.ptinews.com/story/business/atmanirbhar-should-not-degenerate-into-inefficient-import-substitution-says-ex-rbi-chief/1708513
[5] https://www.ndtvprofit.com/economy-finance/rbi-drafts-new-rules-to-ease-export-and-import-procedures
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