China, India and Japan
After the Kovid-19 epidemic, Japanese companies are seeing India as a base. Because she is adopting a ‘China Plus One’ policy to reduce her manufacturing and supply chains to reduce dependence on China. Experts from the Financial Counseling Company Deloite have said this. This policy involves setting up production facilities in alternative countries, in which India is emerging as an important beneficiary. Cenichi Kimura, Chief Executive Officer (CEO) of Deloitte Japan, said, “After Kovid, Japanese companies are actively discovering the ‘China-Plus’ supply chain strategies, in which India is emerging as a major destination.
There will be many benefits from coming to India
While some companies returned to Japan under the China Plus One Policy, others are not only looking at India as a manufacturing center, but also seeing it as entrance to high -growing markets like West Asia and Africa. . ” Although the vast size of India’s domestic market is a major attraction, the thing to make India even more attractive is that it has a well -installed trade and talent network in these areas. Kimura said, “Where Japanese businesses still remain fully exploited by this capacity, we see India not only as a market, but also as an important supply chain center that regional and global Can carry forward success. “
Government of Japan is helping
The government of Japan has actively supported this change by allocating sufficient funds to transfer production to companies domestically or southeast Asia. Japanese companies are forming a strategic partnership to take advantage of India’s large domestic market and competitive labor costs and expand operations in India. Romal Shetty, CEO of Deloitte South Asia, said that the ‘China Plus One’ strategy has inspired Japanese companies to explore and invest in India, which aims to diversify its supply chain and take advantage of the country’s economic capacity. .
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