India emerging as hub in global supply chain space
The country is a promising new region with lower tariffs, lower landed costs, and special incentives for many industries under PM Modi rule: Rajeev Chandrasekhar
New Delhi: From zero presence in the global supply chain 10 years back, India now has a significant role to play in the supply chain ecosystem across industries, creating huge investment and job opportunities, Minister for State (MoS) for Electronics and IT, Rajeev Chandrasekhar said.
The Minister reacted to a commentary piece in Forbes which mentioned that for supply chain leaders, India is a promising new region with lower tariffs, lower landed costs, and special incentives for many industries, under the visionary leadership of Prime Minister NarendraModi.
“From being absent in global supply chains in 2014 to today rising to a major presence in global supply chains, creating investments and jobs is yet another Prime Minister NarendraModi’s transformation of India’s economy,” Chandrasekhar posted on X social media platform.
Today, India is a solid option to diversify the global supply chain.
“When I talk to supply chain leaders, it’s clear that success looks like operating with agility -- often across borders -- in a changing global economy. India is a great place to start,” wrote Dave Evans, CEO and Co-Founder of Fictiv, the operating system for custom manufacturing, in the article. According to the International Monetary Fund (IMF) estimates, India will be the world’s third-largest economy by 2027, with a GDP of $5 trillion.