Development of new value chains

We have seen a complete transition in the trade and value chains in recent times. We have witnessed a decline in trade intensity of value chains. But, in absolute terms, the output and trade both are continuously growing. The goods rolling out of the world's assembly line traded across the borders is decreasing. On the other hand, we have seen an increase in the services which are being traded across borders. India has been an emerging market in the service sector. Goods-producing value chains such as automotive, computer and electronic are focusing more on regional consumption. The shift is towards the regional market instead of the global market especially in Asia and Europe.


In developing countries like India, the consumption is drastically increasing, goods which are produced in a country are being consumed in the same region. More and more domestic supply chains are being built in India reducing the dependence on imported inputs. We have seen Mr Modi's vision of Atmanirbhar Bharat, several infrastructure projects which are coming upon India and how it is reshaping the existing supply chains and driving the focus towards local instead of global.  Lower global trade is an indication of how India is reaching the next level of economic development and how we are a step closer to becoming a developed economy.

Various infrastructure projects like the setup of Infrastructure Pipeline, Dholera Smart City, Ujh Multipurpose project amongst other portrays the vision of our PM. Global value chains are being shaped on the grounds of data flow between countries including digital platforms, Internet of things, Artificial Intelligence, Machine Learning among others.


The value of a faster supply of goods to the market has increased tremendously and as a result, we have seen the rise of local supply chains instead of global. Global technology is helping supply chains becoming efficient locally. This has also resulted in a decline in imports of intermediate goods. In addition, value chains are becoming more knowledge-intensive and less focused on low-cost labour.

As per a Bloomberg report, two-third of the world trade is in intermediate goods instead of final goods and services. India is about the capture this market by shifting its focus towards the manufacturing sector. Thanks to our professor Mr Prasad we are a part of this mission and are playing a role in this emergence of self-reliant India. The vision of Prasad sir has helped us realise the importance of local and how we as management students can contribute in bringing them forward and making them global.


Involvement of technology in today's logistics and supply chain continue to improve. With the help of the Internet of things, we can make the process of delivery and procurement more efficient by real-time tracking. Artificial Intelligence can help in tracking the real-time traffic and help transporters discover new routes which will eventually help in faster delivery and increasing customer satisfaction. Professor Prasad helped me realise how I can leverage my existing IT experience along with the Management knowledge gained in NITIE and contribute to the growth of India and in the process earn a profit. The clarity provided to us by Professor Prasad helped me carve out new and hidden opportunities in the Handloom Industry in Madhya Pradesh. I was able to identify the weaving industry whose true potential is hidden from the entire world. Thank you, sir, for the valuable sessions and now I will take forward the local for vocal movement and establish a successful business out of it.

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