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Self-reliance and supply chains

India needs to focus on manufacturing competitiveness, rather than building domestic supply chains in their entirety

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Illustration: Ajay Mohanty

6 min read Last Updated : Jun 29 2020 | 11:19 PM IST

As India redefines national priorities in the face of the Covid pandemic, it has, in the economic context, sought to invoke the objective of self-reliance. The aim is to evolve local supply chains, reduce import dependence and instead emphasise import substitution while simultaneously seeking export competitiveness. These goals may prove elusive. Let us understand why.

Building a competitive industrial base through import substitution is a long process, possibly spanning decades, as it requires specialisation and scale in all components of the supply chain. Characterised by proximate production and development of necessary sectoral competencies, such “lumpy” industrialisation was predominant prior to

Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

Topics : RCEP World Trade Organization manufacturing Chinese products

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