Advertisement
Monday, Sep 20, 2021
Outlook.com

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'
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...

Advertisement

Outlook Newsletters

Advertisement

Read More from Outlook

India To Resume Export Of Surplus Vaccines Next Month Under 'Vaccine Maitri'

India To Resume Export Of Surplus Vaccines Next Month Under 'Vaccine Maitri'

Health Minister Mansukh Mandaviya said the government will receive over 30 crore doses of COVID-19 vaccines in October and over 100 crore doses in the next three months.

Charanjit Singh Channi: Councillor to Punjab's First Dalit CM, A Journey Of Three Decades

Charanjit Singh Channi: Councillor to Punjab's First Dalit CM, A Journey Of Three Decades

Three-time MLA from Chamkaur Sahib Channi has become the first Dalit face to get the top position in the state government. In 2018, Channi was accused in a #MeToo case.

We Have Zero Tolerance For Corruption: Amazon's Response On Bribery Allegations By Whistleblower

We Have Zero Tolerance For Corruption: Amazon's Response On Bribery Allegations By Whistleblower

The e-commerce retailer was responding to a report alleging a certain amount paid by Amazon in legal fees have been used to pay bribes by one or more of its legal representatives.

IPL 2021, KKR Vs RCB: Eoin Morgan's Men Seek Turnaround In UAE

IPL 2021, KKR Vs RCB: Eoin Morgan's Men Seek Turnaround In UAE

While RCB is third in the eight-team standings with 10 points from seven games, two-time champions KKR are languishing at the seventh spot with just two wins.

Advertisement