The evolution of global supply chains (GSCs) has transformed international trade and economics. It opened up world markets and catalyzed the economic development of various countries around the world, particularly in Asia. The coronavirus pandemic has forced countries to close off their borders to contain the spread of the virus. This has restricted the flow of goods and people, thereby exerting debilitating pressures on global supply chains, even as the pandemic has also given rise to volatile demand fluctuations and supply-side problems. How are countries and manufacturing industries across the world responding to these disruptions? What are the vulnerabilities in supply chains that the pandemic has made clear? What does it take to improve their resilience in times such as these? How will global supply chains be transformed due to COVID-19 in the years to come?
We hosted a KnowledgeTransfer@CarnegieIndia workshop that introduced global supply chains, their evolution, and their role in global trade. The workshop discussed the vulnerabilities in supply chains and the measures governments and corporations should take to mitigate their impact on global trade. This was moderated by Suyash Rai.
Rajat Kathuria is the director and chief executive at Indian Council for Research on International Economic Relations (ICRIER). He has over 20 years of experience in teaching and 15 years experience in economic policy, besides research interests in a range of issues relating to regulation and competition policy.
Saumya Krishna is a senior principal at Kearney. She has over 13 years of experience in consulting, with assisted clients in the pharmaceutical industry, CPG, and retail. Her areas of expertise include end-to-end cost transformation, supply chain restructuring in pharma, and consumer-facing businesses.
Suyash Rai is a fellow at Carnegie India. His research focuses on the political economy of economic reforms, and the performance of public institutions in India. His current research looks at the financial sector, the fiscal system, and the infrastructure sector.