Around 200 American firms are in quest of to move their production base from China to India publish the general elections, a most sensible US-based advocacy workforce has stated, gazing that there is an improbable opportunity with firms looking at alternatives to the Communist large, in line with the US-India Strategic and Partnership Forum.
The US-India Strategic and Partnership Forum’s (USISPF) President Mukesh Aghi said that the companies are talking to them about how to set up an alternative to China by investing in India.
Aghi said that USISPF’s recommendation to the new government would be to accelerate the reforms and bring transparency in the decision-making process.
“I think that’s critical. We would advise to bring more transparency in the process and to make it more consultative”, Aghi said.
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Aghi said that they have formed a high-level manufacturing council within the member companies, led by John Kern, 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.
On the amount of investment these companies would bring to India, he said the number in question is substantial.
He said that Mark Linscott, the former Assistant US Trade Representative for South and Central Asian Affairs, is working with USISPF member companies to come up with a recommendation as to what India needs to do to enhance its exports and work up from that perspective.
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What they’re saying is we want a backup strategy to start manufacturing in India. There are small-small issues, which can slow them down. And at the moment most of them are waiting for elections to be over. But there’s a large deluge of companies keen to not only manufacture in India but also who want to go after the domestic market, he said.
On the amount of investment these companies would bring to India, he said the number in question is substantial.
If you look at, our member companies in the last four years have invested over $50 billion, he added.
