With PM @narendramodi's call for #AatmanirbharBharat, there's been a lot of discussion and some early activism on swadeshi.

It is important to make the distinction between Made In India ie Made By Indians and Owned By Indians. Former should be the focus, not the latter. (1/n)

Made / Make In India is what the central and state governments are chasing. All the reforms taken up and planned are directed towards inviting firms to set up in India. While Indian firms will expand too, global firms are very much part of the Make In India initiative. (2/n)

Made By Indians in India is what is important. New manufacturing will create the dearly needed jobs and improve our standing as an industrial nation. Shifting the workforce from agriculture and allied activities to industry is the ultimate goal. (3/n)

Too much focus on Owned By Indians is counterproductive. Capital as well as risk-taking ability will come from wherever it is in abundance. Demonizing foreign firms shifting to or already in India serves no purpose. Of course, country-specific capital controls can be there. (4/n)

Local brands will develop over time. They will also need global capital access to expand globally. Shutting doors based on ownership is neither desirable nor practical. Let us not throw the baby (manufacturing opportunity) w/ the bathwater (colour of capital). (5/n)

PM @narendramodi clearly talked about participating more prominently in global value chains. That's the critical part of #AatmanirbharBharat - the ability to influence and control.

It is perfectly OK to fly Boeings and Airbuses rather than wait for a MII airplane! (n/n)