Supply chain challenges can be met by exploring other markets: Birla at WEF

As the COVID pandemic and the Ukraine conflict put pressure on supply chains globally, top industrialist Kumar Mangalam Birla on Wednesday said some of these concerns can be addressed by exploring other source countries but globalisation is here to stay.

He was speaking during a session on 'Balancing globalisation and resilience in a time of crisis' at the World Economic Forum Annual Meeting 2022.

"India is almost back to leading normal life and my clear view is that we should not think about any way away from globalisation. There can be some optionalities though," Birla said.

"Regarding supply chain challenges, we can look at other options. We are also doing that in some of our businesses, exploring various other countries for our inputs etc," he added.

The Aditya Birla Group Chairman further said it may not be possible to localise fully, keeping in mind various factors including costs for customers.

"There cannot be one size fits all," he said.