INTERNATIONAL JOURNAL OF PROFESSIONAL STUDIES

Historically, India was self sufficient rural economy during Ancient and medieval period, where Indian economy was not dependant on any other country. India exported many goods to the rest of the world. Our economy was flourished before British enters into India, because of our rich in economy many foreigners came to India to exploit our wealth and some of the foreigners came to India for Trade. Finally, British occupied India and exploited our economy through Free trade policy which was benefited to the British. After Independence, particularly 1950 onwards our country has started our own policy popularly known as Planning System. Through planning system our economy was transformed from market economy into controlled economy or planned economy from 1950’s to 1990’s. After 1991 again our economy transformation was started from controlled economy to open or market economy through L.P.G. policies. Indian economy transformation stated from socialistic approach to capitalistic approach. Even though India has started capitalistic approach still our economy is depending on many countries and India is importing many commodities from the rest of the world. In this situation Covid 19 effect was started throughout the world including India. In this circumstance Government of India has announced Special financial package in the name of Atma Nrbhar Bharat for self reliant India. This paper focused on how Atma Nirbhar Bharat is a opportunity to transform our economy from dependant to self reliant and how India’s ascent to become a global player.

Keywords: Transformation of Economy; open economy; capitalistic approach; Atma Nirbhar Bharat; global player