21 October, 2020

Mission Impossible? As Global Supply Chains Lie In Tatters, India Aims To Replace China As 'Factory To The World'

PM Narendra Modi is hoping to garner a whopping $330 billion by wooing foreign investors to 'Make in India'. The 'Buy Local, Be Global' mantra is also aimed at being self-reliant.

Mission Impossible? As Global Supply Chains Lie In Tatters, India Aims To Replace China As 'Factory To The World'
outlookindia.com
2020-06-05T21:25:32+05:30

China-Plus-One. This is the new strategy being pursued by countries and companies, policy-makers and entrepreneurs, to survive in the re-imagined, re-aligned post-COVID world. Nations went through near-death experiences as they were economically strangled by the closure of China, the ‘Factory to the World’, and global supplier of most goods. As governments struggled to catch their breaths, given the manufacturing churn and choked throats, they witnessed the decimation of their globalised production models.

The destruction, not just of a well-oiled and seamless global supply chain, but also of a mindset, led to the concept of China-Plus-One. No one wants to put their eggs in a single manufacturing basket; no one wants to depend on a single source for their needs. Hence, there is a mad scramble to spread out, to seek out alternate suppliers. China may yet remain the No. 1 or No. 2 vendor for most nations, but it will not be the only one, not even a major one. This has presented an unprecedented opportunity to India.

India’s Prime...

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