India has emerged as a most sought destination for raw material & product sourcing and companies worldwide are choosing to import from India. Fuelled by the Government initiate to strengthen the domestic manufacturer has remarkably transformed the quality and growth, with the advantage of skill India initiate, another strategically step in order to create skilled workers has only has helped make sourcing simpler and cheaper for companies across the world.
The slight erosion in China’s competitive position and questions about the country’s future has led businesses to rethink their sourcing strategy. In fact the rate of exports growth from China to the western world has slowed down for the first time in 5 years. The re-evaluation of the Chinese currency over the last 4-5 years vis-à-vis the US currency and imposition of anti dumping taxes on several products for which Europe and US are trying to protect themselves against Chinese imports has not helped much either. For companies looking to diversify their low cost country sources of supply, India seems to be an obvious choice.
– low labour costs – economic weight – stable political system – world class IT solutions –
India’s vast manufacturing base includes :
chemical and pharmaceutical products; textile, leather and clothing; machine tools and electrical equipment; Handloom; agriculture; automobiles; healthcare; cement; consumer market and much more..