India Has Opportunity to Lead on Reliable and Resilient Supply Chains: Vir S Advani CII Chairman
· Free Press Journal
India has a significant opportunity to strengthen its position in global supply chains by focusing on reliability, resilience, innovation and speed alongside cost competitiveness, said Vir S Advani, Chairman, CII Western Region and Chairman & Managing Director, Blue Star Ltd.
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Speaking at the session on Geostrategy, Supply Chains and Strategic Resilience during the CII Annual Business Summit, Vir S Advani said global supply chains are evolving rapidly with businesses increasingly prioritising dependable sourcing networks, technology integration and manufacturing agility.
“Supply chains are being completely rewritten and redone. Cost and efficiency were really the drivers of supply chains till now. Today, the focus is also on resilience and reliability. We need to look at quality, innovation and speed. This implies that we need to indigenise ourselves,” Advani said.
He stated that technology and artificial intelligence are playing an increasingly important role in reshaping manufacturing and supply chain ecosystems globally, creating fresh opportunities for India to emerge as a trusted manufacturing and supply chain partner.
“There is a big opportunity for us to compete not just on cost but on reliability and resilience,” he added.