becoming an established base for pharmaceuticals, chemicals and engineering,
which are the focus of the US-China trade tensions. China is still the number
one in manufacturing with a diversified base.
The Cushman and
Wakefield 2021 Global Manufacturing Risk Index has stated that India will
benefit from the relocation of factories from China to other parts of Asia.
India is already becoming an established base for sectors like pharmaceuticals,
chemicals and engineering, which are the focus of the US-China trade tensions.
stated that the reforms in land and labour laws would be a critical step in
ensuring that India becomes a global manufacturing hub.
China is still
the number one in manufacturing with a diversified base. The country is further
diversifying its base to focus on telecom, high-tech, computers, electronic
components, automotive manufacturing, chemicals, natural
stated that the US is a desirable hub due to its large consumer market and the
incentives offered at both state and federal levels. Its rapid adoption of
technology and policies makes it a tough competitor to China.
In terms of
cost, China is number one, followed by Indonesia at number two and India at
number three. Vietnam and Thailand have slipped slightly below their previously
As far as the
risk scenario is concerned, India is in the third quartile of the rankings.
Similarly, in terms of the bounce back rating, India is in the fourth quartile.
Source – Business Today
Image Source: Cushman & Wakefield Website