India has opportunity to get ahead in global supply chain reconfiguration race: KPMG report
New Delhi: The COVID-19 pandemic led to the dismantling of global supply chains as countries imposed lockdowns, exposing the reliance of businesses around the world on a few markets for fulfilling their manufacturing and sourcing requirements, a KPMG report said on Tuesday. According to the report titled 'supply chains post COVID-19', India has a unique opportunity to adopt a more inclusive and proactive role in leveraging its vast pool of skilled resources, competitive costing and developed eco-system for select sectors to get ahead in the global supply chain reconfiguration race.
The report suggests that a more realistic approach for many companies looking to realign supply chains would be to consider a 'China + n' strategy to their future course of action. This allows for a non-linear consideration of global trade, more in the nature of production networks with multidimensional value accretion phases rather than sequential links in a chain.