In the neighbourly ties between India and China, it appears that India is holding the upper hand, particularly if you are the US. Wondering why? Well, for starters, the United States happens to be an ally of both India and China, even as it happens to have not such a fantastically fruitful relationship with China, at this point in time.
But purely from an economic standpoint, it now appears that it’s advantage India vis-a-vis China where it comes to the US deciding on who it wants for manufacturing for not hundred, one hundred and fifty but 200 US firms.
It appears that 200 US Firms are going to make in India; after deciding to move their manufacturing base from China to its neighbor, India.
And that said, it could augur really well for South-Asian democracy, that happens to be the world’s largest in terms of population numbers.
More on the news now.
Of late, a lot many US firms had been making queries as to how could they move their manufacturing base out of China and find an alternative? To that end, India came out to be the answer.
Some critical information on this noted development was shared by the US-India Strategic and Partnership Forum (USISPF), whose President, Mr. Mukesh Aghi happened to share the following:
“Companies are talking that how can they set up an alternative to China by investing in India.”
On the basis of the above, a simple but important recommendation has been shared by Mr. Aghi to the hono’ble Government of India. He is of the view that the Indian government should work toward accelerating the reforms and bring more transparency in the decision-making process for the measures of the kind that can bring great value to the decisions such as the ones being made by the 200 US companies.
To quote Mr. Aghi from the noted Economic Times, it is worthwhile to make a note of what he said, “we need to understand how we can attract those companies. And that means all the way from land issues to customs issues to being part of the global supply chain. Those are critical issues. There are a whole plethora of reforms that need to go further down, and I think that is also going to create a lot of jobs.”
At the end of the day 200 US companies wanting to be here in India is no small number, right? Just imagine the number of jobs and the upshift of the whole ecosystem that such a move can bring? Now, it appears that the ball is in India’s court with the 200 US companies wanting to be here in India, not in China anymore.