WeChat QR Code

Home>News Center

India wants to become the top manufacturing alternative to China. But first it needs to beat Vietnam

2024-04-02 09:20:37       source:CNBC

April 1, 2024

India wants to be the top manufacturer in Asia as companies shift away from China, but first it needs to lower taxes and improve supply chain efficiency if it wants to dethrone Vietnam.

The U.S. has pursued a "friendshoring" agenda as competition with China increases. The Biden administration has encouraged American companies to move electronics and technology manufacturing operations out of China and into friendlier countries, particularly Vietnam and India in Asia-Pacific.

"Both Democrats and Republicans see China as a challenge. And every boardroom in the U.S. is asking a CEO what their derisking strategy from China is," said Mukesh Aghi, president and CEO of the U.S.-India Strategic Partnership Forum. 

Read more: