Indian Firms Prioritise Supplier Diversification And Inventory Build‐Up: Report

(MENAFN- IANS) New Delhi, Aug 31 (IANS) Indian businesses are actively redesigning supply chains to boost resilience against global conflicts, with 70 per cent executives prioritising supplier diversification and 59 per cent increasing inventory levels, a report said on Monday.

The report from DP World said the findings, based on a survey of 451 senior supply‐chain and logistics executives, show Indian firms placed greater emphasis on resilience than global counterparts.

Supplier diversification is the leading priority, followed by increasing inventory and friend-shoring, it said.

Technology adoption and entry into new markets are also key drivers, with over half of Indian businesses having fully digitalised customer-facing services, compared with fewer than four in ten globally.

AI is already improving route optimisation, documentation and customs efficiency, strengthening supply-chain resilience, the report noted.

The PLI scheme strengthens domestic manufacturing, while expanding trade relationships create new sourcing and market opportunities, the firm said.

FTAs emerged as the top policy priority for further trade growth, cited by nearly half of executives, ahead of digitalisation and trade facilitation. Access to trade finance is also stronger in India, with 57 per cent reporting reasonable availability, compared with 39 per cent globally.

“Diversified sourcing, strategic inventory, digitalisation and access to new markets are becoming increasingly important in navigating disruption," said Rizwan Soomar, CEO & MD, Subcontinent, Central Asia, Levant and Egypt, DP World.

Nearly 46 per cent of logistics executives identified road networks as a priority due to trade volume growth.

Meanwhile businesses are increasingly turning to multimodal solutions including rail and coastal shipping.

"By investing in integrated infrastructure, digital capabilities and trade facilitation, India can strengthen the competitiveness of its businesses and unlock new opportunities across emerging global trade corridors," the report noted.

-IANS

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