India: answer to de-risking the GLOBAL SUPPLY CHAIN
The current health crisis has definitely created a grim situation and has exposed a long known weakness in the global supply chain due to the shutdown of Chinese manufacturing for a long period early in the start of 2020.Manufacturing has been centralised to one region specifically. This needs to change, we need to reduce the risk to global supply chain by diversifying the location of manufacturing across the world. India is in a unique position to speed up‘Make in India’ to a global audience looking for solutions.
The disruption in the Chinese supply chain should open new doors for Indian manufacturers. This will present an opportunity for Indian manufacturers to accelerate exports of manufactured products out of India to Europe and America. Moreover, this will create an opportunity for Indian manufacturers to supplement its domestic requirements across few industries.
Eventually by capitalising on this opportunity Indian manufacturing industry will create more jobs, de-risk from Chinese supplies and also boost the Indian economy due to high export revenues lower imports thereby reducing the trade deficit.
This can only happen when industry bodies and government organisations bring about structural changes within our country by changing key policies and giving an impetus to make India as a manufacturing hub. It will be a long process however, if actions are taken immediately India can be turned into an industry friendly location further attracting investments in manufacturing across various business verticals.
Furthermore, in time like these tradeshows like India Warehousing Show play an imperative role in rolling out new and exciting business opportunities. IWS will mark its 10th anniversary in 2020, and with a successful stint of nine years is back once again to offer all its participants, a bigger and a much better platform to put forth their latest products, solutions and value added services encompassing logistics for manufacturing, warehouse infrastructure, material handling, storage, automation and supply chain.
Trying times don’t last but smarter businesses do…
Join hands with India Warehousing Show 2020 and let’s make India the “Manufacturing Power House”!