Parul
As per news reports, about 200 American companies are likely to move their manufacturing base from China to India post the general elections, in view that there is a fantastic opportunity with firms looking at alternatives to the Communist giant.
The US-India Strategic and Partnership Forum’s (USISPF) President Mukesh Aghi made a statement that, the companies are talking to them about how to set up an alternative to China by investing in India. He was also reported saying that, USISPF’s recommendation to the new government would be to accelerate the reforms and bring transparency in the decision-making process.
While addressing the interview Aghi further also said that they have formed a high-level manufacturing council within the member companies, which is led by John Kern, the Senior Vice President of Supply Chain Operations at Cisco who are putting a document together detailing what India needs to do to turn it into a manufacturing hub.
What can India do to expedite the entry of these firms? Accelerate reforms, make decisions such as the recent draft e-commerce policy and data localisation more consultative, and explore a free trade agreement with the US, Aghi said.
