China plus one: Will the dragon now make way for the elephant?
SummaryWe must double down on our strategic advantages as the West looks towards India as a friend-shoring supply chain partner
India’s manufacturing sector is riding the tailwinds arising from a Western shift in interest away from China. As a result, large conglomerates from sectors like electronics, renewable energy and automobiles have expressed their intent to set up shop in the country. A case in point is Apple, whose new plant in Tamil Nadu began production of the latest iPhone 15 last month. Similarly, Tamil Nadu also roped in two new factories from the Denmark-based Vesta, the world’s largest wind turbine manufacturer.