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Amid Global Lockdowns, India Finds Itself Facing Autarky-Like Conditions

In economic parlance, Autarky denotes a system which is more self-sufficient than inter-connected.

A man wearing a protective mask walks past shipping containers at the Jawaharlal Nehru Port, operated by Jawaharlal Nehru Port Trust, in Navi Mumbai, Maharashtra, India. (Photographer: Dhiraj Singh/Bloomberg)
A man wearing a protective mask walks past shipping containers at the Jawaharlal Nehru Port, operated by Jawaharlal Nehru Port Trust, in Navi Mumbai, Maharashtra, India. (Photographer: Dhiraj Singh/Bloomberg)
The word ‘autarky’ traces its origins back to the Greek language. In English, it means self-sufficiency. And in economic parlance, it denotes a system which is more self-sufficient than inter-connected.The global spread of Covid-19, which has forced many a country to impose complete or partial lockdowns, may force India into a period of autarky-like conditions as global trade and supply chains are disrupted significantly.Disruptions ...
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