Foreign Secretary Harsh Vardhan Shringla has said the COVID pandemic has brought the need for more secure and reliable supply chains to the fore. He said there is global recognition that there is a need to diversify supply chains and design them to be more resilient to disruptions like the current pandemic. He was speaking at the Indo German 1.5 Track Dialogue 2020 yesterday.
The Foreign Secretary said this as an opportunity to make India an active manufacturing hub placed at the heart of global value chains. This is the vision of the Atmanirbhar Bharat or Self-Reliant India Campaign. He added that the campaign merges domestic production and consumption with global supply chains.
He stated that India has undertaken a number of reform measures. He noted that India has simplified labour laws, instituted landmark reforms in the agriculture sector, and launched production linked incentive schemes to attract investment in various sectors. India has also liberalized and incentivized the small and medium enterprises sector.
He said India looks forward to further enhancing partnership with Germany’s Mittelstand ecosystem in this context. He added that there is great potential for collaboration between India and Germany in the area of digitalization, start ups, innovation and new and emerging technologies.