Niti Aayog CEO says India needs to amalgamate global value chains: PTI

NITI Aayog CEO B V R Subrahmanyam on Tuesday stressed upon the need for India to amalgamate global value chains and adapt quickly to emerging trading systems. 

While addressing a thematic workshop on 'Inclusive Trade for Growth & Prosperity' organised by NITI Aayog, Subrahmanyam also highlighted the need for a non-discriminatory and inclusive trading system that facilitates trade as an engine of growth and prosperity, PTI reported. 

NITI Aayog member Arvind Virmani highlighted the need for strengthening key areas such as labour-intensive supply chains, institutional factors for policy framing and simplifying taxation system, and integrating payment, refund and export credit systems especially for MSMEs, PTI stated. 

He also stressed upon the need to take into consideration several anti-dumping issues and the need to foster FTAs (free trade agreements) with potential partners, PTI noted. 

Ramesh Chand stressed on the need of reducing non-tariff barriers; mobilising resources for scaling up aid-for trade, particularly for MSMEs in developing and least-developed countries; and digital inclusion in three areas -- infrastructure, skills and data ownership, PTI reported. 

NITI Aayog is organising a series of thematic workshops on key agendas of New Delhi Leader's Declaration (NDLD) to devise actionable strategies and plans that can be implemented to provide impetus to growth and prosperity of the country, as per PTI. 

Other thematic workshops are focused on topics of SDGs (sustainable development goals), roadmap for tourism, digital public infrastructure, India and African Union cooperation, data for development, women-led development, etc, PTI noted.