India wants to become the top manufacturing alternative to China. But first it needs to beat Vietnam
Publishing timestamp: 2024-04-02 01:35:52
Summary
India aims to become the top manufacturer in Asia as companies shift away from China, but it first needs to address challenges such as lowering import taxes and improving supply chain efficiency to dethrone Vietnam. The U.S. is encouraging companies to move manufacturing operations out of China, with Vietnam and India being attractive alternatives. However, Vietnam currently leads in manufacturing exports, especially in electronics. India's infrastructure and import taxes are hurdles to its manufacturing hub ambitions, but efforts are being made to improve logistics and attract foreign investment.
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Keywords: alphabet inc, business news, tesla inc, asia economy, china, automobile manufacturing, technology, vietnam, india, apple inc,