NEW DELHI, Jan. 29 -- The Economic Survey on Thursday called for creating a new industrialisation model focused on deeper integration into global value chains, rather than existing models centred on import substitution.

The survey, tabled in Parliament, also said India needs to build "strategic resilience" through diversification and create depth of capabilities instead of seeking complete self-reliance."The next phase of industrialisation will require a calibrated shift from a model centred mainly on import substitution towards one focused on scale, competitiveness, innovation and deeper integration into GVCs (global value chains). Rather than seeking complete self-reliance in every segment, India needs to build strategic resilience thr...