India is targeting companies like Apple and Foxconn to invest in India, with trade war hitting China and US relations. As global supply chains are getting disrupted with tariffs imposed on billions of dollars of products, Indian government has asked ministers to submit reports for attracting investments.
Several sectors including auto, pharmaceuticals, electronics etc are being targeted. The government is meeting these companies between Aug 26 and September 5th to discuss best investment zones for their operations.
Other countries like Vietnam have emerged as top destination for relocation of manufacturing operations from China, with stable policies and faster clearances. Some experts believe that India might have already missed the bus. The Indian government is speeding up efforts to use this opportunity to ramp up manufacturing in India, much needed to sustain growth of our economy that already offers a huge domestic market.
Do you think India can take advantage of US- China trade wars? Tell us in the comments below..