Economic nationalism — policies prioritizing national interests over global interdependence — is resurging worldwide. It blends protectionism, state control, and strategic trade policies to secure domestic industries and economic sovereignty.

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• Rooted in 16th–18th century mercantilism emphasizing wealth accumulation and trade surplus.

• Gained strength in the 19th–20th centuries through tariffs and protectionism during industrialization.

• Declined post–World War II as globalization and liberal trade systems like GATT expanded.

• Revived in the 21st century due to globalization backlash, financial crises, and geopolitical tensions.

• Focuses on tariffs, FDI restrictions, and state capitalism to protect local interests.

• Key benefits: domestic job protection, industrial growth, and national security.

• Criticisms: trade wars, inefficiency, and disruption of global supply chains.

• India’s version evolved from Nehru’s self-reliance model to “Atmanirbhar Bharat.”

• Post-1991 reforms balanced liberalization with strategic protectionism.

• Challenges: balancing global integration, reducing inequality, and avoiding new dependence.