Onus on the States to get their act together and frame attractive policies
As a direct fall out of the pandemic, many multinationals with manufacturing plants in China are looking to shift operations out. National governments, as part of their economic package, have said they will assist these companies if they were to move their plants to other countries.
Japan, for instance, has earmarked ¥243.5 billion of its economic support package to help manufacturers shift production out of China. This includes yen 220 billion for companies shifting production back to Japan and ¥23.5 billion for those planning to move to other countries. Media reports indicate that the US Government will support companies contemplating India as an alternative to China.
Will India be able to attract a bulk of those companies opting to switch their production out of China? The Centre has set up a committee of joint secretaries from different ministries and departments to see how to attract foreign investment in these trying times. A couple of States too have got into the act.
https://www.thehindubusinessline.com/economy/as-mncs-head-for-the-exit-door-in-china-india-has-to-make-its-move/article31484219.ece
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Onus on the States to get their act together and frame attractive policies As a direct fall out of the pandemic, many multinationals with manufacturing plants in China are looking to shift operations out. National governments, as part of their economic package, have said they will assist these companies if they were to move their plants to other countries. Japan, for instance, has earmarked ¥243.5 billion of its economic support package to help manufacturers shift production out of China. This includes yen 220 billion for companies shifting production back to Japan and ¥23.5 billion for those planning to move to other countries. Media reports indicate that the US Government will support companies contemplating India as an alternative to China. Will India be able to attract a bulk of those companies opting to switch their production out of China? The Centre has set up a committee of joint secretaries from different ministries and departments to see how to attract foreign investment in these trying times. A couple of States too have got into the act. https://www.thehindubusinessline.com/economy/as-mncs-head-for-the-exit-door-in-china-india-has-to-make-its-move/article31484219.ece