How India can compete with China in manufacturing?
Align with global quality standards of manufacturing: Indian companies should focus on ensuring quality control. Quality of materials and labour, technological sophistication, product quality are the ways to compete successfully with suppliers from China.
Can India be manufacturing hub?
India will be among the top five countries to be recognised as a global bio-manufacturing hub by 2025, Union minister Jitendra Singh said on Friday, noting that India’s bio-economy is on way to achieve USD 150-billion target from the current USD 70 billion.
Why businesses in India are moving from China to India?
Further, businesses in India have started building up local supply chain capacity in order to de-risk from China and lower manufacturing costs. This development will definitely be of interest to foreign companies who are looking to exit China or expand their manufacturing operations.
Will India replace China as the next global manufacturing hub?
Here we spotlight a few reasons why India is the best suited destination to replace China as the next global manufacturing hub. According to the World Economic Forum, India is expected to be the third largest consumer market by 2025, just behind the US and China.
What are the challenges of large-scale manufacturing in India?
Second, only some locations in India are suitable for large-scale production, and there are logistical challenges in getting raw materials to these production hubs and in getting the finished products out. Third, the large-scale reskilling of workers required, to take on the jobs which might move from China, will not happen overnight.
Can India capitalise on China’s supply chain migration?
India has many hurdles to overcome, from reskilling workers and ensuring power supply stability, to adding deep seaports and tax breaks. Critically, given stiff competition, speed is key if India is to capitalise on the supply chains moving out of China