Indian Economic Review

, Volume 54, Issue 2, pp 367–370 | Cite as

Saon Ray and Smita Miglani: Global value chains and the missing links: cases from Indian industry

Taylor and Francis, 2018. hbk ISBN: 978-1-138-70902-7, e book ISBN: 9780429892011
  • Biswajit NagEmail author
Book Review

Globalisation has changed the way countries are engaged in international trade. More than 60 percent of global trade consists of trade in intermediate goods and services, generating new value every time they cross national borders. Prof Richard Baldwin argues that twenty-first century globalisation is different from the twentieth century as more and more production process is fragmented and small-valued components are crossing the border multiple times and sometimes under different kinds of trading regimes. This requires a carefully orchestrated strategy for trade efficiency and timeliness of delivery to ensure production competence. In this context, the emergence of Global Value Chain (GVC) is a major phenomenon which has changed the global trading environment significantly. Even non-trading local firms have become a part of many such chains through adding values and supplying components to firms who are linked globally. Hence, GVC also helps explain the changed global–local trade...


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© Editorial Office, Indian Economic Review 2019

Authors and Affiliations

  1. 1.Indian Institute of Foreign TradeNew DelhiIndia

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