Covid-19 could reconfigure geo-economics. As the pandemic shakes business processes across the world up, India may see its chances brighten to supplant China as the “factory of the world".
Big corporations in the West that have manufacturing units in China are being nudged by their national governments to relocate their units to other countries.
With its abundant labour, vast talent pool of managers and well established practices, India could gain from this. Reportedly, about 1,000 foreign companies are in discussions with Indian authorities at various levels.
The government reportedly aims to lure at least 300 of them to set up production facilities in sectors such as mobiles, electronics, medical devices, textiles and synthetic fabric.