The establishment of World Trade Organisation in 1995, saw countries slashing trade barriers and adopt policies to attract FDI. This facilitated advancement of global value chains (GVCs) that internationalised production fragmentation thus promoting economic growth, increasing job creation and reducing poverty. With the advent of ICT revolution world witnessed intensified globalisation. As per World Bank, about 50 per cent of global trade is via GVCs. This is twice as much as conventional trade.