The rapidly expanding global value chains of multinational corporations are increasingly dominating international trade, which emerging economies like India can hardly afford to ignore. The limited presence of Indian small and medium enterprises in the GVCs of MNCs can be traced back to a negligible share of internationalised SMEs, which is primarily due to a weak innovation
By Arjun Kumar, Ritika Gupta
MSMEs are key drivers of innovation, economic growth, and new employment generation, making them a key demographic constituent to measure the economic health of countries globally. And w Globalization of industries happening at a fast pace it will be critical for the growth of MSMEs to look into aspects of accessing the market potential offered by the global integration.
In the joint talk organized by Centre for Work and Welfare (CWW), Impact Policy and Research Institute, New Delhi, Counterview and Working People’s Charter, Prof Dev Nathan said that a lot of trade is nowadays organized in the form of global value chains, and it’s important to know one’s role, and potential to upgrade within the global value chains. It is a critical issue for developing countries as they move from being Least Developed Countries (LDCs) to become Moderately Developed Countries (MDCs) further moving along the middle-income trajectory.