India’s supply-chain opportunities discussed in Chicago panel

- ADVERTISEMENT -

The Consulate General of India in Chicago, in partnership with the US-India Strategic Partnership Forum (USISPF) held a panel discussion (virtual) on “Supply Chain Resilience: Opportunities for India” Aug. 10, 2022.

More than 70 attendees participated in the webinar organized as part of the Consulate’s Azadi Ka Amrit Mahotsav fortnight, a press release from the Consulate said.

India’s Consul General in Chicago Amit Kumar delivered the keynote address providing a snapshot on India-USA strategic relations, and steps being taken by India to strengthen manufacturing and to integrate India with global supply chains.

The panel expounded on the opportunities for India to leverage the reconfiguration of Global Value Chains (GVCs) disrupted by the COVID-19 pandemic and subsequent geopolitical developments.

The need for transparent, reliable and resilient supply chains was considered significant and critical in the backdrop of the pandemic and other geopolitical developments, as was the important role that India can play in this regard.

Participants also dwelt on the need for ongoing consultations on supply chain resilience between India and the U.S., among Quad members, and with other partners. This is especially important in reference to priority sector areas such as semiconductors, pharma and life-sciences, 5-G and telecom, Artificial Intelligence, etc.

The discussions covered issues such as ongoing measures to strengthen the manufacturing sector, PLI (Production Linked Incentive) Schemes, leveraging digital technologies to drive innovation and efficiencies, exponential growth of start-ups, strengthening the Small and Medium sized enterprise sector (SMEs). The importance of upskilling the labor force, adoption of Industry 4.0 tools, reducing logistics costs, and closer coordination among government and industry on policy and regulatory issues were also considered priorities.

India which is expected to grow at over 7% this year and poised to become a $5 trillion economy later this decade, will increasingly play an important role in global supply chains, the press release said.

The discussants on the panel included Vice President and MD, Emerson Automation Anil Bhatia; Vice President and Supply Chain Officer at Hohnson Controls Susan Huppertz; and Praveen Gosain, director – Supply Chain, Corning Technologies, India.

Atul Dhawan, chairperson, Deloitte India, moderated the session.