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    Vikshita Vitthal Gujaran in News

    11-Apr-2023 06:51 AM


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    India poised for more important role in global value chains, finance minister says

    India's growth is sustainable as it attempts to grow its manufacturing sector and not import products that it manufactures April 11, 2023 / 10:24 AM IST It is unrealistic to think every manufacturing activity is going to get out of China but the recent supply chain shock justifies more than one location for companies, the finance minister said.
    India is poised for a more important role in global value chains, Finance Minister Nirmala Sitharaman said in Washington DC overnight.
    The programme is part of New Delhi’s broader goal to help reduce imports and boost exports of manufactured products to secure a foothold in the global supply chain that is undergoing a shift from China following the Covid-19 pandemic.
    It is unrealistic to think every manufacturing activity is going to get out of China but the recent supply chain shock justifies more than one location for companies, the finance minister said.
    India has come up with ambitious nationally determined goals on climate change and decarbonisation and has fulfilled some of its COP 21 nationally determined contributions largely from its own funds, the according to the minister.
    ”She also expressed concern over green policies.

    Source -https://www.moneycontrol.com/news/business/india-poised-for-more-important-role-in-global-value-chains-finance-minister-says-10393361.html