India has surpassed the United States to become second most desired manufacturing hub in the world.
The reasons stated are
•India emerging an innovative country
•production linked incentive scheme to promote telecom equipment manufacturing in India.
China retains it’s first position Cushman and Wakefield said. The Global Manufacturing Risk Index, stated that they had created a report on the most favorable locations for manufacturing among 47 countries in Europe, America and Asia-Pacific.
“India takes the second spot after China as the most sought-after manufacturing destination globally,” Cushman and Wakefield asserted.
The position in and as of 2021 are.
3• United States of America
5• Czech Republic
The rankings depend on four conditions which are as follows-
- country’s ability to begin manufacturing
- business atmosphere(including availability of cheap labour, market accessibility),
- Cost of operation
- Political, financial and environmental factors.
India emerging as the second most popular country for manufacturing is definitely a victory. Despite this fact, we have a long path to traverse to manage the related risk factors and the Covid resurgence which might create a derth in the business market.
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