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.
India tops list for future investment target: Japanese ambassador Hiroshi Suzuki
