Policy Report – Opportunities for India’s Participation in Global Value Chains
Asia and the Pacific have attracted significant attention from policymakers, the private sector, and development sector partners as a region well placed for India to expand its trade and economic partnerships. However, key legal, policy, and operational aspects need to be reviewed and adjusted to enable India to be a critical player in global value chains (GVCs). The topic holds its relevance with the recent emphasis by countries and multilateral institutions on the importance of restructuring strong and resilient supply chains, especially after the pandemic’s global disruptions. With the rise of globalization and technological advancements, Global value chains have become an integral part of the global economy, and countries that are well-integrated into these chains tend to experience faster economic growth and development. By participating in GVCs, India can benefit from greater access to new markets, technology, and skills, which can help enhance its competitiveness and increase exports. Additionally, integrating into GVCs can help India attract more foreign investment and create more jobs. India has made significant progress in this area in recent years, particularly in the information technology and services sectors. However, there is still potential for further integration into GVCs, particularly in manufacturing and other sectors. Thus, understanding the opportunities for India’s participation in GVCs is essential for policymakers, businesses, and investors seeking to leverage India’s potential in the global economy.