PM: Great opportunity for MSMEs to be part of global supply chain
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FAQ for MSMEs to be part of global supply chain
Frequently Asked Questions (FAQs)
FAQ 1: What recent development indicates a great opportunity for MSMEs to be part of the global supply chain?
Answer: The Aero India 2023 event emphasized the opportunities for MSMEs and start-ups to integrate into the global supply chain and attract foreign investments, including partnerships for co-development and co-production, which offers a promising avenue for MSMEs to be part of the global supply chain.
FAQ 2: How are India and the United States collaborating to strengthen the global supply chain?
Answer: President Biden and Prime Minister Modi have signed an MoU on Semiconductor Supply Chain and Innovation Partnership, marking a significant step toward collaboration between the United States and India in strengthening the global semiconductor supply chain. (Source: Joint Statement from the United States and India | The White House)
FAQ 3: What is India's stand on the manufacturing of semiconductors, and how does it affect MSMEs?
Answer: India is increasingly focusing on the semiconductor industry. Companies like Larsen & Toubro are planning to establish subsidiaries for fabless semiconductor chip design, which could potentially provide new opportunities for MSMEs within this sector's supply chain. (Source: Semiconductor Industry in India: Incentives and Key Players)
FAQ 4: What role does MSMEs play in India's pharmaceutical industry and the global supply chain?
Answer: India's pharmaceutical industry is a leading producer of low-cost vaccines and generics, making it an attractive sector for global investment, with 100% FDI policies in place. MSMEs in this sector can leverage these opportunities to become part of the global pharmaceutical supply chain. (Source: Pharmaceutical Industry in India: Exploring Investment Opportunities)
FAQ 5: Are there any long-term strategies that India has adopted to address supply chain disruptions caused by COVID-19?
Answer: The G20 Bali Leaders' Declaration, which includes India's participation, acknowledges the challenges presented by the COVID-19 pandemic, global supply chain disruptions, and strives towards solutions that can lead to a resilient global economy. MSMEs can take note of the national and global efforts in place to stabilize the supply chain. (Source: G20 Bali Leaders' Declaration | The White House)
These FAQs and their responses provide a basic overview of the opportunities and collaborations that can benefit MSMEs within the global supply chain, especially with the focus on defense, semiconductors, and pharmaceutical sectors, as well as overarching governmental initiatives.