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“Indian component makers must aim for breakthroughs in frugal innovation to cater to local market.”

Covid-19 has thrown up unprecedented challenges for businesses globally. Experts say it’s an opportunity for the Indian industry to capture companies and investments migrating from China. But India has stiff competition from other low-cost destinations in Asia – and some Chinese companies – for a share of this pie, Mohit Bhasin, partner, KPMG, tells ET Prime. Excerpts:
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rajivghosh
20 May 2020 5 Mins Read 1 comments
Mohit Bhasin, partner, KPMG India; image credit: KPMG
Mohit Bhasin, partner, KPMG India; image credit: KPMG
What are your thoughts on the need for re-imagining supply chain in manufacturing post Covid -19 ? Demand, supply, and workforce availability are being affected globally at the same time. This has brought the inherent risks in global supply chains to the fore. Consequently, instead of awaiting a return to business as usual, companies from advanced economies are
investments in bolstering our infrastructure capabilities, including plug-and-play industrial parks, industrial zones and parks, warehouses, and state-of-the-art SEZs and EOUs to attract as well as incentivise global companies to invest here. As we navigate our way through this crisis, speed, agility, and innovation are required from governments, businesses and society in crafting responses to deal with the evolving ‘new normal’.
What are your thoughts on the need for re-imagining supply chain in manufacturing post Covid -19 ? Demand, supply, and workforce availability are being affected globally at the same time. This has brought the inherent risks in global supply chains to the fore. Consequently, instead of awaiting a return to business as usual, companies from advanced economies are investments in bolstering our infrastructure capabilities, including plug-and-play industrial parks, industrial zones and parks, warehouses, and state-of-the-art SEZs and EOUs to attract as well as incentivise global companies to invest here. As we navigate our way through this crisis, speed, agility, and innovation are required from governments, businesses and society in crafting responses to deal with the evolving ‘new normal’.

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