India's Chief Economic Advisor V. Anantha Nageswaran advocates developing a supply chain security framework modeled on China and US approaches. He suggests creating a 'blocking statute' similar to China's Decree No. 834 and 835, and establishing an authority like US CFIUS to review foreign investments. This comes amid rising global protectionism and companies' reluctance to relocate operations. Nageswaran criticizes Indian private sector's investment hesitancy despite improved profits and regulatory environment, while rupee hits all-time low against dollar.

India's push for supply chain security reflects growing economic nationalism amid global trade fragmentation. As countries increasingly prioritize domestic interests over free trade, India recognizes the need for defensive mechanisms. China's decrees punish companies attempting supply chain relocation, while the US CFIUS screens foreign investments for national security risks. Nageswaran's proposal addresses India's vulnerability in an interconnected yet increasingly protectionist world. The framework would protect against foreign economic coercion while ensuring critical supply chains remain secure. This aligns with India's broader self-reliance agenda under Atmanirbhar Bharat. The criticism of private sector investment patterns highlights a disconnect between corporate profits and national economic goals. With manufacturing's GDP contribution stagnating and FTA utilization remaining low, India needs coordinated public-private efforts. The rupee's depreciation, while challenging for imports, could boost export competitiveness if properly leveraged. This supply chain security initiative represents India's evolution from a passive trade participant to an active economic security architect, recognizing that future prosperity requires protecting domestic interests while engaging globally.