May, 2023
American (and to some extent Taiwanese and Japanese) businesses have got the message. Shifting all production back on-shore is not viable for them. India is emerging as the producer of choice for sectors other than those where the US has an active industrial policy (e.g. chips).
It’s important to understand that this purely is in their own self interest as they get to kill two birds with one stone - keeping production capacity intact at the same if not lower cost over the medium run but also expand TAM by gaining access to India’s large captive market.
Smartphones, wind-turbines, automobiles, electronic appliances, solar panels, toys, footwear, etc.
China Finally Has a Rival as the World’s Factory Floor
Companies are looking to find a backup for manufacturing, and India—which has a labor force and an internal market comparable in size to China’s—is making its case.
www.wsj.com
Apple (AAPL) CEO Tim Cook Sees India at ‘Tipping Point’ as China Shift Quickens
Apple Inc. chief Tim Cook singled out India on Thursday as pivotal for the iPhone maker, underscoring how the world’s most populous country is on the cusp of becoming both a major market and production base.
www.bloomberg.com
India tops list for future investment target: Japanese ambassador Hiroshi Suzuki
www.moneycontrol.com
www.moneycontrol.com
Cisco to Manufacture in India as it Targets over $1 Billion
Cisco, a global technology leader, announced today that it will start manufacturing in India, a major step in the expansion of its footprint in the country. This move is a part of Cisco's strategy to create an even more diverse and resilient global supply chain and support India’s vision of becoming a global manufacturing hub.
newsroom.cisco.com
Walmart: Unique ecosystem of suppliers to help Walmart export goods worth $10 billion from India annually by 2027: CEO - Times of India
India Business News: NEW DELHI: Retail giant Walmart on Wednesday said India's unique ecosystem of suppliers will help the company in achieving its goal of exporting goods.
timesofindia.indiatimes.com
