One thing that clearly can be predicted is China’s past two decades image of being a hardware base for the world will never be the same post pandemic as before. First half of the year 2020 is evident that the economic contagion that is spreading faster than COVID-19 has disrupted the entire supply chains affecting a huge number of businesses across the globe. And unlike always this time manufacturing disruptions are not caused by “tariff man” but the Chinese virus.
COVID- 19 that had started in Wuhan has shaken the entire world not only in terms of health but also in monetary terms. Thus, several developed economies are planning to move their multinational corporations from China to emerging economies like India. Moreover, according to certain sources Japan’s government has allocated economic stimulus package of $2.2 billion towards aiding Japanese giants to move from China. Moreover, some of these Japanese corporations include companies due to which China was known a manufacturing hub for decades.
Not only Japan but United States followed by South Korea is will also be moving their manufacturing corporations to India.
Why have these developed economic giants chosen India as their manufacturing base, when India for several years is known for its digital bits?
Although India’s has for long been known as a software hub to the globe, the country:
Despite of all the aforementioned benefits, there are certain challenges that require government’s attention like:
Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.
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