Owing to supply disruptions caused by the Russian-Ukrainian war, many countries started thinking about being self-sufficient with respect to critical imports' and India needs to ensure that Atmanirbhar should not degenerate into inefficient import substitution', former RBI Governor C Rangarajan said on Saturday. Addressing the 14th Convocation of the ICFAI Foundation For Higher Education, he said India's development strategy should be multidimensional and growth may be stimulated by raising investment rate, emphasizing agriculture, manufacturing and services, absorbing new technologies and promoting a mix of sectors that are employment friendly. Any import substitution must look at cost. Expensive, import substitution is not to the advantage of anybody. What we need to do is efficient import substitution. Atman should not degenerate into the old style import substitution. I think that is contrary to what is good for our country, he said. Jobless growth is certainly a matter of ... Read The Rest at :