Strengthening supply chains

01 MAY,2022 | MEDC


 

The Prime Minister aptly said that India can be a key player in the global semiconductor supply chain, and that the country is an attractive investor destination for semiconductor technologies. India is building a digital backbone to connect its vast population, and also investing heavily in the skilling and training of its youth for the challenges of the 21st century. While no economy can be an island in today's world, Atmanirbhar Bharat is an idea whose time has come. Self-reliance projects – whether for electronic chips or solar energy panels – actually provide stronger links to international supply chains, and so should be promoted. Simultaneously, the vulnerability of some domestic production units on imports should also be considered. In this world of uncertainty, it is important to strengthen domestic supply chains, but also be aware that being dependent on trade partners is part of being a modern economy.  

*Picture Credit: Google

 

 

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