Global Value Chains in Overcoming Socioeconomic Challenges: The Impact on Industrialisation and Job Creation in Developing Countries

Global value chains have been recognised as a crucial driver in addressing socio-economic challenges by fostering competitive advantages in developing economies. Global value chains play a significant role in industrialisation and job creation by facilitating technology transfer, enhancing productivity, and linking domestic firms to global markets. The research aims to assess the impact of global value chains on industrialisation and job creation in developing countries as a means for connecting its contributions to taking into account the socioeconomic challenges of developing countries within the global economy. The study conducted a 16-question survey among 101 working adults from India with work experience and knowledge of global value chains and evaluated data through primary quantitative methods, including descriptive statistics, regression analysis, and factor analysis using SPSS. The study shows a clustered distribution of data as per central tendency (mean) and variance (standard deviation), which shows the moderate level of agreement shown by most respondents towards the opinions related to job creation in global value chain sectors within developing nations. The study findings benefit policymakers, economic strategists, and industries in tackling socio-economic challenges in developing nations.