Why friendshoring isn't the answer and how India can build manufacturing prowess4 min read . Updated: 28 Jan 2023, 03:31 PM IST
- Instead of hitching hopes to friendshoring, the focus should be on identifying and removing the sources of high costs and the policy errors
Soumya Kanti Ghosh, chief economic adviser at State Bank of India, argued in an op-ed that the rebalancing of the supply chain algorithms underway would ensure that ‘friend-shoring’ and ‘near-shoring’ are going to be permanent fixtures in an increasingly deglobalized world, altering the manufacturing prowess of nations like India.
Select your Category