It's time for India to relook at supply-chain operations

Singapore: India can use its seasoned IT service providers to take up new and exciting roles to provide tech-led procurement services, according to Singapore-based business leader Girija Pande. Improving logistics, sourcing and procurement are major focus areas of the Indian government and third-party logistics is expected to grow 8 per cent CAGR (compound annual growth rate) during 2021-25, Pande told PTI on Sunday.

Highlighting some trends in the sector, he said: "Resilience and sustainability of supply chains is a matter that is engaging urgent attention of political and business leaders in all major economies. The supply chain industry is transforming by diversifying supply sources, going beyond China, until now a clear choice of most as a manufacturing hub of the world.

This is an opportunity for India and other countries as the next potential source of supply." Three major global trends impact global supply chains today, Pande, Chairman of Apex Avalon Consulting in Singapore, pointed out. These include the impact of pandemic, impact of geopolitical rivalry playing out between China and the US and increasing impact of climate change, he explained. The global push for all round sustainability is clearly enshrined under three popular ESG goals: environment, social and governance themes, he said.