200 American companies to move Factories from China to India!
200 American companies ready to move from China to India
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Reference -
https://economictimes.indiatimes.com/news/economy/foreign-trade/about-200-us-companies-seeking-to-move-manufacturing-base-from-china-to-india-usispf/articleshow/69068781.cms
https://www.cnbc.com/2019/04/08/us-china-trade-manufacturing-supply-chain-changes-amid-dispute-says-bain.html
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As we have discussed multiple times in last one year, Economic war in between America and China can present major opportunity for India to become major manufacturing hub for the world.
While America and China are engaged in the talks for trade deal, the supply chains have already started moving from China to other countries.
Early this month, a survey was published in CNBC news paper. This survey covered 200 high level executives of top American companies having significant manufacturing operations in China.
When last year this Survey was conducted on same group, more than 50% were waiting for things to be clearer, and no major action was being taken.
However, this year around 60% are ready to take action to move their supply chains from China to other nations.
You know, these companies have been manufacturing goods in South East Asian nations earlier as well. therefore their first destination is to move more manufacturing in south east asian countries.
But if India is to take advantage in this movement of supply chains, we have to put extra effort, so that these companies feel, that we are ready to welcome them here in India.
Basically, the point is, when a company is ready to relocate its manufacturing facility, before selecting best option, it considers multiple options first.
In comparison to other south asian countries, India offers another advantage in our larger domestic market.
American companies can meet local rising demand in India and export made in India goods to american and European market.
As we discussed in our last video, on the invitation of Indian Prime Minister, Foxconn is getting ready to manufacture latest apple Iphone in India this year, by moving its supply chain from China to India.
Now as per news report of Economic Times, about 200 american companies are thinking about moving their factories from China to India.
Obviously, before jumping on Indian ground, To get an idea about Indian surface, these american companies are waiting for the result of general elections.
We hope, once strong and stable government is formed in India, it will form more attractive policy for specially american firms to set up factories in India.
We should not assume, these companies have no other option, every other country is more than ready to welcome them. India should be best and easiest place to make anything on this planet earth.
Keeping in view long term future, Clear stable and attractive policy must marketed among all companies looking at India as manufacturing base.
Needless to say, when such american factories will be opened in India, our youth will get more employment opportunities.
Then our youth will have option to either work in American factory or in Chinese app tik tok. No work is bad, but life is good when you have options.
More importantly, Even if America and China conclude a trade agreement next month, we should not expect that trend to move factories from China to elsewhere will reverse.
Lets be frank, No trade deal is going to stop the competition in between America and China to occupy number one position in the world.
Moreover, You all know, China will not implement any trade deal, which is harmful to itself. so far as China is concerned. There is big difference in making a trade deal and implementing it.
Point is simple, companies will move their factories from China for sure. its up to us now, if they relocate their factories in South East Asia or South Asia, where India is located.
For now, we will have to wait for the result of this general election, which will decide if India remains a dumping ground for cheap Chinese goods, or becomes a factory for producing cost effective high quality products for Global market.
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