SUPPLY CHAIN DIVERSIFICATION

 Pandemic has given a chance to act on all major issues which were earlier ignored. Globally every regime-looking issue is important to them. One issue which has got global attention is supply chain diversification.

Till now China is a manufacturing hub for all. But lockdown has shown over-dependence on one country has a major problem.

The political reaction we saw on this issue which we are not going to discuss here. This has given an opportunity which we are going to look here with government action for this.

Till now Japanese and Chinese people are considered to be very efficient and hard working. All major corporation shifted their manufacturing to China which not only gave them cheap labor but also cheap money in terms of land and relaxed compliance. Also to define labor laws as per their investment.

Over this export, subsidy killed local manufacturing causing loss of employment. All countries became importers of cheap and inferior quality goods.

Now the pandemic is changing its thought process.

The supply chain to maintain trade and economy is at the center of all.

Lots of large and medium as well as small enterprises are moving to other parts of Asia & India as per the requirement of the mother unit or market demand. Lots of legislation have been changed to change the dynamics of business. A clear-cut road map is given by the Government which fulfills the requirement of every segment of the market, else the remaining are work in progress mode.

The major issue we face is labor and land, which is very critical plus is very archaic in nature. Other issues are important but this issue is politically sensitive. 

Here issues are a lot but we have got an opportunity to grab. As the regime is listening to the voice of stakeholders and resolving the issues which are raised by them.

As said above that an opportunity is here for us, think big to gain major pie of cake also have the patience to succeed. This is added by ecosystem for a startup with the fund is also evolving.

Now manufacturing is going to shift from China to another part of the world, it is up to us to chase the opportunity and grab it.

Awareness for locally manufactured goods with quality is getting support from locals, also funding has been started, though it is very low. Still, we can work on this.

Use this opportunity to make fortune for yourself.

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