Economy News
How India can become one of key nodes in global manufacturing value chain

There are times when you need to adjust to a disruptive environment. At other times, disruptions need to be met head-on, with your own brand of change. The Covid-19 pandemic has exposed the fault lines in global trade and its financial roadmap, dislocating global manufacturing value chains, almost irrevocably. This sudden disruption has raised a fervent clamour to diversify the existing global supply chain. For India, this presents a tremendous opportunity to enter the $1-trillion global manufacturing club. Resiliency will be the key focus going forward—cost-efficiency will not be the only consideration while designing global supply chains. The Covid-19 pandemic will further accelerate movement of exports away from China, as companies will have to think about a China-plus-one strategy. India could indeed become one of the key nodes in the global manufacturing value chain.

News Source:- https://www.financialexpress.com/opinion/how-india-can-become-one-of-key-nodes-in-global-manufacturing-value-chain/2008106/