 "An uptick in manufacturing activity a decade since the launch of the Make in India initiative notwithstanding, India's integration with global value chains faces some challenges.")
An uptick in manufacturing activity a decade since the launch of the Make in India initiative notwithstanding, India’s integration with global value chains faces some challenges.
Global value chain (GVC)-related trade, a measure of a country’s participation in the multi-stage trade process, accounts for more than half of the gross trade in India’s manufacturing sector. And despite an uptick in the ratio in other sectors as well, India’s total GVC-related trade lags behind Vietnam and Russia (Charts 1, 2).
