They even carried out backward integration and thus emerged as global manufacturing hubs for certain products. In India, economic liberalisation has damaged the government’s capacity in two ways. Second, the logic and policies of economic liberalisation seriously undermined the manufacturing capabilities of health products in India. In the name of economic efficiency, India allowed unconditional imports of these products and never took note of the dangers of dependency. Developing countries were asked to ease their labour protection laws to facilitate global production and supply chains popularly known as global value chains.

Source: The Hindu April 14, 2020 18:45 UTC