The inclusion of global value chains has been a game-changer on its road to export-oriented manufacturing excellence. As companies diversify to offset risks, India has presented itself as an alternative destination for outsourcing production tasks. Strategic partnerships with MNCs have permitted technology transfers and investments in critical infrastructure.
The preferential trade agreements, such as the RCEP (Regional Comprehensive Economic Partnership) and bilateral free trade agreements, have expanded India’s market access and strengthened its competitiveness in key export destinations. India is capitalizing on emerging opportunities by positioning itself as a reliable and cost-effective manufacturing hub in the global marketplace.
India’s textile and apparel industry is a strong example of outsourcing. Indian textile makers have partnered with international brands and retailers to become key suppliers in global supply chains. Companies like Arvind and Raymond have diversified their offerings with higher quality standards coupled with enhanced production capabilities to meet the demands of the international markets.
"Success in the APAC supply chain demands collaboration, innovation, and a steadfast commitment to sustainability", Matthew Monaghan, Head of DSJ Global.
The rise of export-oriented manufacturing in India symbolizes a remarkable journey fueled by strategic foresight, technological competence and human resource development. India is poised to solidify its position as a leading player by leveraging its strengths and seizing opportunities in the global manufacturing landscape.
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