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India looking to attract US Companies away from China

India Looking to Attract US Companies Away from China

India looking to attract US Companies away from China

  

As the US continues blaming Beijing for the role it played in creating the COVID-19 virus and the Coronavirus pandemic, India is now looking to attract US companies away from China and promoting India company incorporation. This past April, the Indian government contacted over 1,000 US companies and provided incentives for those leaving from China and establishing their operations in India. The country has placed the highest priority on the following industries:

  • Auto parts manufacturers
  • Leather
  • Medical equipment suppliers
  • Textiles
  • Food processing units

According to Indian Government officials involved in the effort, more than 550 products could be affected by this relocation. In a recent interview, Prime Minister Narendra Modi stated an investment surge of this magnitude would shore up India’s economy which has been devastated by the lockdown that was put in place to combat the virus. Consequently, the need to create new jobs is even more urgent now that there are an estimated 122 million individuals that lost their jobs as a result of the pandemic.


  

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