Is India preparing to emerge as an alternative to China?
May be yes, looking at the ongoing developments and discussions around the post Covid-19 lockdown scenario.
Especially, for the US companies that were doing business in China.
Given the worsening relations between US and China in view of the Covid-19 outbreak, most US companies are likely looking at India as their immediate alternative opportunity.
The American Chamber of Commerce in India has reportedly organized a special meeting between a senior official from the US Department of State and the representative of large American companies in India.
During the meet, the officials laid a special emphasis on India as a possible alternative to businesses shifting from China.
“India can quickly become a favorable jurisdiction for more of the industrial activities that are happening currently in China,” Thomas Vajda, Assistant Secretary of State for South Asia in the US Department of State said in a statement.
As part of the meet, representatives of various US companies were also advised to make a proposal to the Government of India on allowing more US firms.
“Government relations between the two countries will be supportive,” Vajda added.
In fact, this would be a right time for companies willing to exit China and find a way in India.
Moreover, the government is also reportedly making similar moves to attract new investors and businesses post the lockdown period.
As the sources say, the Department of Industry and Internal Trade has reportedly tasked the joint secretaries from various ministries and departments with the responsibility of gathering industry responses on this idea.
Meanwhile, in a recent video conference with the state governments, the Prime Minister Narendra Modi has reportedly asked the chief ministers to prepare the ground at the state level for such companies exiting from China.
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