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Home > News > Regional News

Rising India: Harnessing supply chain diversification

Source：Adsale Plastics Network Date ：2025-04-16 Editor ：Liu Xingyi

Copyright： This article was originally written/edited by Adsale Plastics Network (AdsaleCPRJ.com), republishing and excerpting are not allowed without permission. For any copyright infringement, we will pursue legal liability in accordance with the law.

In the past decade, India is rising among the Asian countries with the world’s largest population and fifth-largest nominal GDP in 2024, despite economic uncertainties and geopolitical tensions around the world.

Looking ahead, India’s outlook for 2025 remains optimistic, driven by strong economic growth, a young and expanding population, and increasing urbanization. “The country’s GDP growth is projected to outpace many large economies, supported by rising domestic consumption and a thriving middle class,” says Vikram Bhadauria, Chairman of the Plastics Export Promotion Council (PLEXCONCIL) in India.

Government-driven initiatives-like “Atmanirbhar Bharat (Self-reliant India)” and “Make in India” also contribute to India’s accelerating economic development, the former for boosting local manufacturing, supply, and demand while the latter for attract foreign investment. Additionally, infrastructure investment from the Indian government also attract foreign investment and drive long-term economic growth across various sectors.

Vikram Bhadauria - Chairman, Plexconcil.jpg

Vikram Bhadauria, Chairman of the Plastics Export Promotion Council (PLEXCONCIL) in India.

Friendly competition with China

As a member of BRICS from the very beginning, India and China has maintained a friendly competitive relationship. After the pandemic, global economy has realized the risks of over-dependence on supply from single source. China, as the main supplier in global manufacturing, faced major disruptions during the pandemic, exposing vulnerabilities in the world’s supply chain. This results in more adoption of “China Plus One” strategy, of which companies seek alternative manufacturing hub to diversify supply chains and reduce risks.

India, with its growing manufacturing sector, skilled labor, and improved infrastructure, has been benefited from this operational shift. Bhadauria also states that other emerging manufacturing hubs from Southeast Asia, such as Vietnam and Indonesia, have also attracted business from this new business strategy. Meanwhile, China, recognizing this business shift, is aggressively expanding its overseas markets and enhancing its global presence to maintain its economic dominance.

U.S. remains largest trading partner

The U.S. is the largest trading partner for India as of 2024. The country welcomes its new and return President this year. The U.S. government is reported to focus on strengthening ties with India, further enhancing trade relations, especially in technology and clean energy.

“India is already one of the U.S.’s largest trading partners, and policies that reduce trade barriers, simplify visa processes, or encourage investment would benefit India’s economy,” says Bhadauria. He adds that closer cooperation in technology, AI, cybersecurity, and space exploration could also boost India’s tech sector.