Global Companies Vietnam and India will directly benefit from China expanding its supply chain outside China. This information was given in a recent report by global investment bank Nomura. The global brokerage firm said in its report that due to its good manufacturing policy, global companies see India as a strong alternative to China. At the same time, Vietnam is also emerging as an alternative. Experts say that the speed with which India has emerged as a manufacturing hub has made it clear that India can soon end China’s dominance in the world.
India emerged as a strong alternative
India has emerged as a strong alternative for supply chains outside China due to the government providing a favorable manufacturing environment for electronics, automobiles, semiconductors, defense and drugs etc. Nomura believes that at the current trend, India’s exports can reach $ 835 billion by 2030 with a compounded annual growth rate (CAGR) of 10 percent, from $ 431 in 2023.
The world is very optimistic about India
The report said that there are many equity opportunities in various sectors in many countries. We are quite optimistic about India. Investors need to be a little patient in the short term. But we think that over time investors will get many opportunities here. A recent report by the United Nations said that India is emerging as a favorite place for investment for Western corporate companies.
Many American companies turned to India
American company Apple and its suppliers have set a target of making 50 million smartphones per year in India in the next two to three years. Foxconn is also expanding its manufacturing facilities in India. America’s Micron Technology is setting up a Rs 22,500 crore semiconductor plant in Sanand, Gujarat. In March, Prime Minister Narendra Modi inaugurated semiconductor plants worth Rs 1.25 lakh crore.
Auto mobile sector saw a boom
The report said that mobile exports from India have seen a huge jump in the last 10 years. According to industry data, a total of Rs 3.22 lakh crore worth of mobiles have been exported between 2014 and 2024. At the same time, the estimated export in FY 24 could be Rs 1.20 lakh crore. It is believed that India’s electronics exports can reach $300 billion by FY 26.
Input: IANS
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