Integrate with global value chains but prioritise value addition: FICCI President Subhrakant Panda

Mr Subhrakant Panda, President – FICCI & Managing Director – IMFA, attended the 13th World Chamber Congress in Geneva organised by the International Chamber of Commerce.

Speaking at a session on Goals for Growth: Raw Materials & Inclusive International Trade, Mr Panda highlighted the importance of international trade in economic growth and prosperity. He said, “It is important for countries with natural resources to integrate with global value chains to reap rewards; however, there must also be a move towards value addition as studies show many advantages accruing from a diversified export basket which includes value added goods.

He also highlighted India’s approach to digital infrastructure as a public good which connects and empowers people. Mr Panda said, “It is not just innovative ideas but the scale at which they are being implemented in India which is attracting the world’s attention.”