Global Supply Chains

Why it matters

• Facilitates international trade and economic integration by allowing countries to specialize in specific stages of production based on comparative advantage.
• Enhances efficiency and cost-effectiveness by leveraging diverse geographical locations for raw materials, manufacturing, and distribution.
• Creates systemic vulnerabilities, as disruptions in one node of the network can cause cascading effects on global production and price stability.

How it is asked

Focus on the shift from 'just-in-time' to 'just-in-case' models, the strategic push for supply chain resilience and diversification (China Plus One strategy), and the implications for India's manufacturing sector and trade policy.