Skip to main content

INDIA'S POSITION IN MANUCFACTURING GOODS WORLDWIDE

INDIA'S POSITION IN MANUCFACTURING GOODS WORLDWIDE



Many think that in the aftermath of the pandemic, several manufacturing companies operating from China will relocate their businesses to other destinations, including India.    
Many American, Japanese, and South Korean companies based in China have initiated discussions with the Indian government to relocate their plants to India. Companies are expected to exit China due to three primary reasons.
The first is the realisation that relying heavily on China for building capacities and sourcing manufacturing goods is not an ideal business strategy due to supply chain disruptions in the country caused by COVID­19. 
The second is the fear of Chinese dominance over the supply of essential industrial goods. 
The third is the growing risk and uncertainty involved in operating from or dealing with China in the light of geopolitical and trade conflicts between China and other countries, particularly the U.S. Prime Minister Narendra Modi’s emphasis on using the COVID­19 crisis as an opportunity to pursue the goal of a self­reliant India must be viewed against this background.



India lags far behind China in manufacturing prowess.China ranks first in contribution to world manufacturing output, while India ranks sixth. Against India’s target of pulling up the share of manufacturing in Gross Domestic Product (GDP) to 25% by 2022, its share stood at 15% in 2018, only half of China’s figure. Industry value added grew at an average annual rate of 10.68% since China opened up its economy in 1978. In contrast, against the target of 12%, the manufacturing sector has grown at 7% after India opened up its economy. Next to the European Union, China was the largest exporter of manufactured goods in 2018, with an 18% world share. India is not part of the top 10 exporters who accounted for 83% of world manufacturing exports in 2018.

For more watch our videos on YOUTUBE

CHANNEL NAMED AS : THE FACT BEE

LINK: https://www.youtube.com/channel/UCPJmVqLO2NyQpm4C7oRjxiw

Comments

Post a Comment

Popular posts from this blog

What is making Rupee Gain value, in recent days??

 What is making Rupee Gain value, in recent days??  Greetings Indian Rupee rose to a new high of 73.40, owing to powerful FPIs Foreign Portfolio Investors. FDI and FPI, there are two types of Investment route in India. FPIs are using foreign rate differential to bring dollars.  Incoming Dollar in India's stock market and steady growth in other Asian currencies, helped rupee to be stronger.  According to experts, in upcoming months FPIs can see a surge. RBI's Role When RBI buys dollars, it releases equivalent amount in Rupees, which could put pressure on inflation and yields. It would be interesting to see RBI's next move in upcoming months. Change in Federal Reserve's Policy:- US has also distributed stimulus to its citizens, which brought hopes in investors, leading stock market to a new high.  New Policies will help keep interest rates lower, stimulate growth to tackle unemployment. This will help emerging markets like India to attract more capital flow. Thanks for Re
Post a Comment
Read more

Update : One Can't be Penalized for Not Wearing Mask in Car.

Update : One Can't be Penalized for Not Wearing Mask in Car. Greetings, Not wearing mask while driving attracts a penalty of Rs.500. Medical experts also point that masks should be mandatory in public spheres. But the base of this rule comes from supreme court's rule in 2019.  In many states Mask is mandated under the guidelines of National Disaster Management Act.  Violation of such guidelines can lead to imprisonment up to 6 months or fine up to Rs.1000. Delhi Government's Delhi Epidemic diseases under the Epidemic Diseases Act, 1897 requires masks in all public spheres.  But how can a car be considered a public space? For this one has to know, Satvinder Singh Saluja versus state of Bihar. "It is true that the public may not have access to private vehicle as a matter of right but definitely public have the opportunity to approach the private vehicle it is on the public road" Supreme Court. In which a two judge bench, ruled out that a private car on a public road
Post a Comment
Read more