BanglaHunt Desk: Don't kill the deadly virus from China that has engulfed the world. The United States of America is making such allegations. The government is trying to bring more than 100 American companies from China to India, if successful, the income will increase. According to Indian officials, more than a thousand American manufacturing companies were contacted in April and told to move their business activities from China to India. These companies make more than 550 products. The government's main focus is on attracting medical equipment suppliers, food processing units, textile, leather and auto parts manufacturers.
The companies want to expand their business activities beyond China
The companies want to expand their business activities beyond China.
The Trump administration's allegations are expected to have a worse impact on global trade. Meanwhile, companies and governments have begun to expand their resources to other countries outside China to expand supplies. Japan has spent ২ 2.2 billion to get companies out of China. EU members are also working on plans to reduce their reliance on Chinese suppliers.
When you come to India, employment will increase
Employment will increase when companies come to India. If the government succeeds in bringing these companies to India, it will help accelerate the economy damaged by the lockdown. In addition, it will help increase the contribution of the manufacturing sector to GDP from the current 15 percent to 25 percent. Due to the epidemic, more than 120 crore people have become unemployed in the country. Thus, increased employment has also become a very important task for the government today.
Like Paul Stanland, an associate professor at the University of Chicago
India will have to compete with the countries of South and Southeast Asia. Paul Stanland, an associate professor at the University of Chicago, said India has a good place in the global supply chain. But for this, India has to invest a lot more in infrastructure and administration. The product regularly looks at India's political and foreign policy issues. India will have to compete with the countries of South and Southeast Asia. Officials told the companies that doing business in India is a bit more expensive than in China, but it is less expensive to get land and skilled labor here than in the United States or Japan.
Discussions with Government Medtronics PLC and Abbott Laboratories
Healthcare product and device manufacturing companies are more likely to visit India
The government hopes they will be able to attract companies that make healthcare products and devices. The government is in talks with Medtronics PLC and Abbott Laboratories, an official said. Both companies are already doing business in India. This will enable them to bring their business activities to India. However, since the beginning of the US trade war with China, many American companies have migrated from China to Vietnam.
Like US Secretary of State Michael Ponce
US Secretary of State Michael Ponpeis said last month that the United States was in talks with India, Australia, Japan, New Zealand, South Korea and Vietnam to ensure that supply chains were not disrupted in the future. Another report states that the United States is working to build an economically prosperous network with trusted partners. Derek Grossman, a researcher at RAND Corporation in Washington, D.C., says India and Vietnam are more likely to have such a network. Grossman has been involved with US intelligence for over a decade.