NEW DELHI: Domestic industry must become more competitive and help the country become 'Atmanirbhar', former union minister Suresh Prabhu said on Wednesday.
Prabhu, who is India's Sherpa at G20, also said most countries are adopting protectionist policies and India too must become self-reliant.
"In the days to come, we have to move with confidence as there is no alternative to Atmanirhbar Bharat," he said, adding that even votaries of a free market economy like the US are adopting protectionist policies.
"There is a need to make our industries more competitive as more competition will result in improving efficiency of our industries. I believe that only competition will help," he said at a virtual event organised by PHD Chamber of Commerce.
Prabhu said the government has implemented many policies to create employment opportunities as well as double farmers' income.
Prime Minister Narendra Modi has given the slogan of 'Atmanirbhar Bharat' to make India more prosperous, he added.
Prabhu pointed out that most countries are adopting protectionist policies and India has to become 'Atmanirhbar' as there is no other option.