New Delhi, Sept. 26 -- Economic self-reliance is not a new idea for India. From the time of independence, Indian leaders understood that without economic strength, political freedom would remain incomplete. However, the definition of "self-reliance" has changed over the decades. In the 1950s and 1960s it meant building industries through import substitution; in the 1990s it meant liberalization and global integration; and today, in the 21st century, it means strategic resilience-the ability to secure critical needs, reduce excessive external dependence, and at the same time compete globally.

India's economic self-reliance is not about closing its doors to trade or investment. Rather, it is about standing on one's own feet while staying g...