India must focus on reducing its dependence on ‘EEDG’.

Energy, Electronics, Defence, and Gold.

These are major import items that make India a trade deficit country losing foreign exchange to trade rather than earn from it.

Energy
The biggest imports are Crude Oil and Gas. India needs to be self-sufficient in Energy both at the corporate and individual levels. Everyone should try to have sufficient solar generation capacity for homes and offices, that takes care of their energy needs. This electricity can also be used to run your automobiles. The Sun shines in India with enough intensity and regularity and gives us more energy than we require. The challenge is about tapping the energy. We need powerful solutions like Elevational Solar Panels, Window Solar Panels, Gallery Solar Panels to tap this energy. With some innovation, we can definitely make India self-sufficient in our energy needs.

Electronics
India has already started manufacturing some electronics and we will see a lot more happen in the next 6-7 years. Initially foreign companies will manufacture in India and later, we will have Indian companies start the manufacturing process. Electronics is the second biggest item on the import list.

Defense
We have already addressed the Defence sector and a lot of indigenous efforts are bearing fruits and have not mentioned it as we will make the import net zero in defence. We will import some defence items and export some others making the trade neutral.

Gold
When the Government started the Gold bond scheme, it was done by private institutions like Reliance funds. Private funds issuing gold bonds did not bring trust and it failed. But now RBI has started issuing Sovereign Gold Bonds and that brings a lot of trust. Anybody, who is investing in Gold and does not want it physically now, must go for SGBs and that is a good option.

Of the above four items, we directly have a role in producing our own energy requirements through solar and buying Gold only in the demat form, if we do not require physical gold as of now. In that way, you will contribute in a big way towards nation building.