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🌍 The China+1 Policy and India's Manufacturing Potential 🌏 I came across an insightful article in today’s Economic Times about the China+1 strategy, which is opening up exciting opportunities for India as a prime destination for manufacturing. This strategic move involves diversifying operations outside of China, and India is emerging as a key player due to its stable economic environment, supportive government policies, and robust market demand. Key initiatives like Make in India and the Production Linked Incentive (PLI) Schemes are driving this transformation by offering financial incentives and improving the ease of doing business. With growing investments and immediate economic benefits, India is poised for significant growth in the manufacturing sector. 💡 Let's delve deeper into these aspects, providing a comprehensive understanding of how the China+1 policy can be a game-changer for India. We will explore real-world examples like Apple and Samsung expanding their operations in India, the impact of the Make in India initiative, and the benefits of PLI schemes. Join me as we uncover the potential of India in this new era of global manufacturing. Together, we can harness these opportunities and drive sustainable growth and innovation. 🌟 #ChinaPlusOne #MakeInIndia #Manufacturing #EconomicGrowth #SustainableDevelopment #Investment #SupplyChain #Innovation #IndiaRising ET Article Link: https://lnkd.in/dzf859bH OpsChain - The Operations Club of WeSchool Chandravadan Goritiyal, PhD, PMP® The Economic Times Welingkar Institute of Management

India is on the verge of becoming the next global manufacturing giant 🚀 From its young and skilled workforce to competitive labor costs, India is positioning itself as a reliable and stable alternative to China. With cutting-edge policies like the Production Linked Incentive (PLI) Scheme, it's already attracting investments from global brands like Apple and Samsung. If you're looking to understand the factors behind India's manufacturing boom and how it’s becoming an indispensable player in the global economy, this post is for you! Here are 5 fascinating reasons why India is set to lead the global manufacturing race: 👉 Swipe through to learn more and comment your thoughts on India’s economic growth below! ⬇️ #India #Manufacturing #GlobalEconomy

India could overtake neighboring China as the engine of global economic growth in the coming years. Exclusive analysis by Bloomberg Economics forecasts that India can reach that milestone by 2028 on a purchasing power parity basis. To get there, Modi will need to hit ambitious goals in four crucial development areas — building better infrastructure, expanding the skills and participation of the workforce, building better cities to house all those workers, and luring more factories to provide them jobs. Story by Anup Roy Dan Strumpf

🇮🇳 In 2018, China's industry output grew six times faster than India's. However, recent challenges, from a drop in demand during COVID to a persistent trade war, have reshaped the landscape. Meanwhile, India has matured, attracting global players like Tata, Boeing, and Tesla. The "Make in India" and "Make America Great Again" movements have disrupted the flow of global manufacturing. India, now the world's second-largest smartphone producer, is at the forefront. 📱 Reflecting on China's rise, Deng Xiaoping's open-door policy in 1978 transformed China into the "world's factory." In contrast, India, following a closed-door policy post-independence, only liberalized in 1991. 🗓️ In recent years, the Indian government has introduced initiatives like "Make in India" and Production Linked Incentives (PLI). Data shows a substantial boost in sectors like pharmaceuticals, chemicals, automotive, and electronics. 📊 For instance, in electronics, we've shifted from importing 98% of phones a decade ago to now manufacturing over 99% domestically. 📱💼 Excitingly, the toy industry is also gearing up, with plans to include toys in PLI schemes. Import duties on toys have increased, leading to a 70% reduction in imports. A toy park in Uttar Pradesh is set to generate employment for thousands. 🧸 The pandemic showcased India's manufacturing prowess with vaccine production. Our response not only met global demands but elevated India's soft power. 💉 Credit schemes like ECLGS for MSMEs provided critical support during the crisis, enhancing our manufacturing capabilities. The US, recognizing India as a manufacturing ally, increased its imports from us by 44%. 🇺🇸 China's challenges include lower worker productivity, a desire for a more comfortable lifestyle, and increased costs. India, boasting the world's cheapest manufacturing talent, has a strategic advantage. 💲 To overcome challenges like logistics costs and worker productivity, India must address infrastructural gaps. As we navigate these hurdles, India is poised to become a manufacturing superpower, transforming the global economic landscape. 🇮🇳 #srcc #accastudents #icaistudents #delhiuniversity #fms #iimahmedabad

India: the world's next growth driver (8Apr24) India needs to hit 4 development goal to overtake China as the world's growth contributor by 2028. Optimisms: Booming stock market, flooding foreign investment, preparing to sign new trade deals with potential markets, scaling up production from Geopolitical opportunity Deficiency: Shoddy roads, uneven education, red tape, and lack of skilled workers Despite these optimisms, Bloomberg found that India will catchup China by 2028. The milestone is conditional on ambitious goals in 4 crucial development areas — building better infrastructure, expanding labor skills and participation, building better cities to house for workers, and luring more factories to provide them jobs. This strategy will make India more competitive towards a shift of Western businesses to diversify away from China in search of a deep well of cheap labor & growing domestic demand. Cr. Article from 'How India Can Take China’s Growth Crown' https://lnkd.in/gEuiKEzf

India overtook South Korea to become 5th largest manufacturing country! Government initiatives like "Make in India" and Production-Linked Incentive (PLI) boost domestic production and attract foreign investments. In fact, India has witnessed a foreign direct investment of $17.96 billion in FY 2023-24, welcoming manufacturing plants of Apple, Samsung Electronics, Foxconn and Microsoft. While we're still behind manufacturing giants like China, this achievement showcases our impressive growth. As companies seek to diversify their supply chains, India with its geopolitical stability, competitive labour costs, and skilled workforce, is emerging as a strong alternative. By 2030, it is projected that India could export goods worth $1 trillion. With continued government support & foreign investments, India is on a robust path to making significant strides in global trade. #india #southkorea #economy #makeinindia #manufacturing

India overtook South Korea to become 5th largest manufacturing country!  Government Initiatives like "Make in India" and Production-Linked Incentive (PLI) are boosting domestic production alongside attracting foreign investments. In fact, India has witnessed a foreign direct investment of $17.96 billion in FY 2023-24, welcoming manufacturing plants of Apple, Samsung Electronics, Foxconn and Microsoft. While we're still behind manufacturing giants like China, this achievement showcases our impressive growth. As companies seek to diversify their supply chains, India with its geopolitical stability, competitive labor costs, and skilled workforce, is emerging as a strong alternative. By 2030, it is projected that India could export goods worth $1 trillion. With continued government support & foreign investments, India is on a robust path to making significant strides in global trade. #india #southkorea #economy #makeinindia

Another remarkable milestone achieved by India 🇮🇳👏 India is now the 5th largest manufacturing country after overtaking South Korea !! - In FY 2023-24, India witnessed an increase in foreign direct investments 📈. - Giants like Apple Foxconn Microsoft Samsung Electronics are setting up manufacturing plants in India. - By 2030, India could export goods worth $1 trillion 🚀. - With government initiatives like 'Make in India' and support towards investment, India is on the path of making itself a significant player in global trade. #India #investments #trade #export

India's Rise in Electronics Exports: Challenging China's Dominance! 🔍 Recent studies reveal a significant shift in the global electronics export landscape, with India steadily carving out its place away from China's stronghold. 📈 🌏 As manufacturers seek to diversify their supply chains, India emerges as a promising alternative in key markets, particularly the UK and US 🛠️ The Indian government's strategic incentives, including tax cuts, rebates, and support for land acquisition and capital, are attracting electronics manufacturers, fueling the country's ambition to bolster domestic manufacturing and expand global exports 📱 Noteworthy investments from tech giants like Samsung and Apple's manufacturing partners, Foxconn and Pegatron, underscore India's growing significance in the global electronics market. 🌐 While India's progress in Europe and Japan is more modest, the trend towards a 'China plus one' strategy highlights the evolving dynamics of global supply chains. Overall, this news is a positive sign for India's growing role in the global electronics market. It will be interesting to see how this trend evolves, especially with Prime Minister Modi's focus on "Make in India" and the upcoming elections. #MakeInIndia #SupplyChain #India #China

India's Golden Opportunity: Leveraging the China+1 Strategy As global companies diversify their supply chains beyond China, India stands poised to reap significant benefits. The China+1 strategy presents a unique chance for India to emerge as a manufacturing powerhouse. Here's why: 1. Skilled workforce: India's large, young, and increasingly skilled labor pool is attractive to multinational corporations. 2. Growing domestic market: Companies can tap into India's vast consumer base while using it as an export hub. 3. Government initiatives: Programs like 'Make in India' and Production-Linked Incentive (PLI) schemes are creating a favorable business environment. 4. Digital infrastructure: India's robust IT sector provides a strong foundation for smart manufacturing. 5. Geopolitical advantage: As a democratic nation with improving ease of doing business, India offers a stable alternative to China. To fully capitalise on this opportunity, India must continue to invest in infrastructure, streamline regulations, and foster innovation. The time is ripe for India to transform from a services-led economy to a global manufacturing leader. What steps do you think India should take to make the most of this China+1 shift? #Manufacturing #ChinaPlusOne #MakeInIndia #GlobalTrade #EconomicGrowth