Covid-19 Opportunity Alert! Can India Surpass China As The World’s Manufacturing Hub?
As the grief of various manufacturers in China increases, many of them are planning to come to India and set up their manufacturing base.
An India-centric US business advocacy group has said that Facebook’s $ 5.7 billion investment in Reliance Jio amid Corona virus epidemic shows that foreign companies are confident of the potential of the Indian economy and its growth in the future.
Mukesh Aghi, president of the US-India Strategic and Partnership Forum (USISPF), said that the Covid-19 crisis has given India a great opportunity to raise foreign investment and replace China as the world’s manufacturing hub.
Aghi said, “I am sure that once the Covid-19 crisis is over, India will have the best opportunity to attract hundreds of foreign companies.” He said that this will not only provide employment, but will also bring investment and the Indian economy will speed up.
He said that Facebook’s multi-billion dollar investment in an Indian company amid Corona virus epidemic shows that India is still a highly lucrative market for digital commerce. Aghi said, “The partnership between Facebook and Jio is not only in the interest of both companies, but it will also benefit Indian citizens and consumers. It also reflects the confidence of foreign companies on India’s economy and future growth prospects”.
Gadkari said many companies are ready to come to India from China
Union Road Transport Minister Nitin Gadkari said on Wednesday that India could benefit in the critical situation caused by the corona virus epidemic. In this situation, many multinationals want to come from China to India. Gadkari said, India should provide facilities for these companies to come here. The minister said, “In this hour of crisis some good things are also happening. Many companies operating in China are ready to bring their industrial unit to India”. He said, “We should provide appropriate facilities to these companies”.
Cases in India reach 21,393; death toll at 681
Total number of coronavirus cases in the world has reached 26,28,527. Death toll has reached 1,83,424 and number of people recovered are 7,84,986.
In India, total cases have reached 21,393. 4,258 have recovered and total people died are 681. In the last 24 hours, more than 1200 cases have been reported in India.
