India climbs global manufacturing rankings amid China+1 shift
India is climbing global manufacturing rankings as it benefits from the China+1 trend, in which companies diversify supply chains away from China. According to an industry body's report, the country has gained momentum in attracting manufacturing investment. Experts say infrastructure and cost advantages are supporting the shift.
India is strengthening its position on the global manufacturing and supply-chain map. Economic data indicate that the country is drawing rising interest in its manufacturing sector.
According to an industry body's report cited by the Economic Times, the China+1 strategy, in which companies diversify production away from China, is working in India's favour. The report says the country's infrastructure investment, labour pool and cost structure are supporting the trend.
Experts stress that, to make full use of this opportunity, India needs to make progress in logistics, regulation and skills development. The investment decisions of global manufacturers will be watched closely in the period ahead.
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