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Welcome To IANS Live - BUSINESS - 'PLI Scheme has potential to position India in Global Value Chain'


Photo Credit: IANS
IANSLive
New Delhi, June 3 (IANS) Budget allocation of $20 billion to 13 core sectors of the economy, under the PLI scheme will encourage incentive-led manufacturing base and has the potential to position India in global value chain, a senior government official said on Thursday.
 
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How the world ran out of everything: Global shortages of many goods reflect disruption of Covid-19 pandemic


(NYTIMES) In the story of how the modern world was constructed, Toyota stands out as the mastermind of a monumental advance in industrial efficiency. The Japanese automaker pioneered so-called Just In Time manufacturing, in which parts are delivered to factories right as they are required, minimising the need to stockpile them.
Over the past half-century, this approach has captivated global business in industries far beyond autos. From fashion to food processing to pharmaceuticals, companies have embraced Just In Time to stay nimble, allowing them to adapt to changing market demands, while cutting costs.
But the tumultuous events of the past year have challenged the merits of paring inventories, while reinvigorating concerns that some industries have gone too far, leaving them vulnerable to disruption. As the pandemic has hampered factory operations and sown chaos in global shipping, many economies around the world have been bedevilled by shortages of a vast range of goods ....

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