The disruption caused by the novel coronavirus, and the international suspicion it has fomented of China’s role in its handling, could result in global value chains being reconfigured.
Companies based in the US, Japan, South Korea and other countries are reportedly keen to shift operations out of China. If India can attract these movers, it could draw billions of dollars in investment that would generate jobs in large numbers.
To grab this opportunity, India’s government is reported to have identified 10 sectors—electrical goods, pharmaceuticals, medical devices, electronics, heavy engineering, solar equipment, food processing, chemicals and textiles—for special attention.