1000 FOREIGN FIRMS MULL PRODUCTION IN INDIA, 300 ACTIVELY PURSUE PLAN TO EXIT CHINA | COVID19 IMPACT

Amid chances of China possibly losing its tag of preferred manufacturing hub following coronavirus, around 1,000 foreign companies are engaged in discussions at various levels with the Indian authorities. At least 300 of these companies are actively pursuing production plans in sectors such as mobiles, electronics, medical devices, textiles and synthetic fabric, according to top government sources.

These companies see India as an #alternate manufacturing hub and have taken up their #proposals across various levels of the government, including central #government departments, Indian missions abroad and state industry departments. "About 1,000-odd companies are currently engaged in discussion at various levels such as #investment promotion cell, central government departments and state governments. Out of these companies, we are targeting 300-odd companies," the official said.

Ref : https://m.businesstoday.in/lite/story/1000-foreign-firms-mull-production-in-india-300-actively-pursue-plan-as-exit-china-mantra-grows/1/401462.html
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