Optimizing the supply chain activities has been the focus of supply chain managers in their quest for creating value. However, optimizing these activities can only lead to operational efficiency and not organizational effectiveness, which is seen by most as a more effective means of gaining competitive advantage, meaning growth. On the other hand, considering value chain for growth has the potential to achieve organizational effectivenesswithout compromising on operational efficiencyas value chain not only strives to withdraw activities that do not add value to its primary activities, but also introduces additional (support) activities such as infrastructure, human resource, finance and technology. These primary and support activities lay the foundation for competitive advantage and subsequently growth. Notably, primary activities in a value chain address the functions of the supply chain. In addition, the value chain focuses on the critical elements that seed competitive advantage, through their support activities. The numerous primary and secondary elements of the value chain, with their interrelationships, linkages and synergy make the value chain act as a source of opportunity for growth. This paper aims to provide a grounded understanding of the value chain, marked by theoretical review and analytical constructs. It exemplifies the usage of value chain for competitive advantage and growth by taking the case of an industry group, the Indian wine industry, which asserts the unexpected emergence of the industry group in the first place. Specific levels of differentiation and cost benefits can be seen as a source for competitive advantage and growth. The paper builds heavily on the concepts of Porter, where he proposes the value chain through which an industry group can create value in its offering by rationalizing coststhrough process improvement or managementto the elements of differentiation that create value for the consumers.

Supply chain management came into existence primarily to achieve efficiency in operations. The changing dynamics of the market and customer preferences warrant quicker response and elaborate customization. At the strategic level, efficient resource and time allocation have been critical for most business operations, and having an efficient supply chain can secure competitive advantages to achieve growth. Therefore, supply chain optimization is essential for most managers, where supply chain is seen as an inherent constituent for suppliers, distributors and customers. Bloomberg et al. (2002) state, "A chain reach extends only as far as its links stay connected. Its strength depends on the strength of each link; no chain is stronger than its weakest link."

Modern managers have now realized that being efficient in operations is akin to achieving the hygiene factor of business. To create a base for competitive advantage and growth, it is essential to achieve a higher-order factor effectiveness. Moreover, the value provided to the end customer lies not only in the end offering, but in the chain of the offering itself, starting from sourcing to operations, retail and after sales service.

Supply chain covers all the activities that form a bridge between the raw material (and the movement of material) and the consumer. As outlined earlier, in the past the primary objective of most supply chain manager was to optimize the activities of the supply chain and thus create value for the customers. Value chain is actually built on the primary objective of supply chain, and takes it further by not only focusing on adding value to each activity, but also by, withdrawing activities that do not add value to the end customer, thereby freeing resources that can be further utilized in a more efficient manner. Value chain also focuses on the linkages and synergies of primary and support activities that create the base for competitive advantage and growth. Hence, to understand the growth of an industry group in competitive terms, a study of value chain seems more appropriate than the supply chain.

Supply Chain Management Journal, Indian Wine Industry, Probabilistic Techniques, Analytic Induction Techniques, Indian Markets, European Markets, Globalization, Domestic Market, Technological Innovation, Domestic Wine Production, Global Wine Industry.