Around more than 200 American companies are nowadays seeking to move up their manufacturing base from China to India after having the general elections, a top US-based news revealed, observing there is a fantastic opportunity with the firms looking at alternatives to the communist giant.
The President of the US India Strategic and Partnership Forums, Mukesh Aghi revealed that the companies are talking to them about how to directly set up an alternative to China by investing in India unit.
Mukesh revealed that the recommendations from the US to the new government would also be to accelerate the reforms and bring transparency in the process of decision making.
“I think that’s critical. We would advise to bring more transparency in the process and to make it more consultative because in the last 12 to 18 months, we are seeing US companies look at some of the decisions being made, either e-commerce or data localization, as more domestic-oriented than global,” he told PTI in an interview.
“We need to understand how we can attract those companies. And that means all the way from land issues to customs issues to being part of the global supply chain. Those are critical issues. There are a whole plethora of reforms that need to go further down, and I think that is also going to create a lot of jobs,” he said.
Mukesh also said that they have formed a high level of manufacturing council just within a large number of member companies, led by the Senior Vice president of the CISCO operations whoa re putting at document together dealing what India needs to do in turn it into a manufacturing unit hub.
On the basis of the amount of investment these companies would bring to India, he said that the number of a question is also substantial.