Trump’s approach as a global hegemon seeks to recalibrate power dynamics, particularly with China, while India’s ‘Atmanirbhar Bharat’ initiative focuses on economic resilience and development as an emerging economy
During the past year building up to the US presidential elections and after the installation of Donald Trump at the White House there has been a ceaseless flow of reports, commentaries and articles asserting that Trump’s policies mark the end to globalization. At the same time parallels are drawn between Trump’s policies and India’s Atmanirbhar Bharat (self-reliant India) initiative.
To be sure, the argument that US policies henceforth will spell the end to globalisation is exaggerated. Global inter-connected today is such that if Trump unilaterally imposes tariffs, the US itself will not escape unscathed.
It is pertinent to note that while parallels do exist between Trump’s policies and India’s Atmanirbhar Bharat their motivations and contexts differ.
Trump’s ‘America First’ agenda, his favoured unilateralism over multilateral trade agreements, his proposed tariffs on Chinese goods and renegotiation of trade agreements challenge assumptions about globalization’s benefits. The fact is that global businesses have been on the alert and are adapting by diversifying supply chains, reducing dependence on single nations like China.
Launched during the COVID-19 pandemic, Atmanirbhar Bharat emphasizes local production, reduced import dependence, and robust domestic industries. Unlike traditional protectionism, policies aimed at self-reliance also aim to boost exports by enhancing local capabilities.
Both policies share a protectionist tone, and focus on manufacturing while reacting to global disruptions. However, Trump’s approach as a global hegemon seeks to recalibrate power dynamics, particularly with China, while India’s initiative focuses on economic resilience and development as an emerging economy. While Trump’s policies targeted trade deficits, India aims to strengthen export competitiveness.