India's Bold Strategies for Resilient and Self-Reliant Supply Chains

Indian Minister Piyush Goyal emphasizes the government's efforts to address supply chain vulnerabilities by investing in infrastructure and launching initiatives like 'Atmanirbhar Bharat'. India is expanding its production capabilities, promoting self-reliance in manufacturing, and fostering trade agreements to ensure resilience amid global challenges.

On Wednesday, Commerce and Industry Minister Piyush Goyal stated that the Indian government is tackling supply chain challenges across various sectors in a bid to build robustness, even if it means incurring additional costs.

Speaking at UNCTAD's Ministerial Roundtable in Geneva, Goyal elaborated on India's 'Atmanirbhar Bharat' initiative aimed at self-reliance. The administration is scrutinizing supply chains to identify vulnerabilities and is prepared to invest significantly to fortify them.

India has introduced measures like a production-linked incentive scheme and a policy to encourage domestic semiconductor manufacturing. Infrastructure developments include a trillion-dollar master plan, with USD 130 billion spent annually on expanding domestic infrastructure. This has resulted in nearly doubling port capabilities, increasing airports, and planning further expansion.

(With inputs from agencies.)