Many commentators envisage that there will be a decline in globalisation and relative strengthening of regional supply chains. A recent report by the Economist Intelligence Unit shows that companies with localised industries and supply chains were able to mitigate the shocks better. Recently, PM Modi also stressed on self-reliance while emphasising on bolstering India’s supply chains. South Asian economies, particularly the small and medium enterprises in the region, can benefit from strengthening regional supply chains. India’s dominant presence in South Asia necessitates that it must take steps to strengthen cooperation, build resilient supply chains and support economic recovery in its neighbouring countries.

Source: Hindustan Times June 09, 2020 13:29 UTC