CosmicTaco

Economic Survey Advocates for Increased FDI from China to Boost India's Exports

CosmicTaco · 2024-07-23T08:33:02.906110+05:30

- The Economic Survey 2023-24 suggests India should focus on attracting FDI from China to benefit from the global 'China Plus One' strategy, rather than integrating into China's supply chain. - The Survey highlights India's growing electronic exports, particularly in mobile phones, as a key area of growth. - With multinational companies shifting away from China, India has a unique opportunity to attract Chinese investments and boost its manufacturing exports. - The government's PLI scheme, offering tax breaks and subsidies, is crucial in attracting companies to set up operations in India, especially in the electronics sector. - Major tech companies like Apple and Google are already increasing their production in India, signaling a positive trend for the country's manufacturing landscape. Source: Inc42

The Economic Survey 2023-24 suggests India should focus on attracting FDI from China to benefit from the global 'China Plus One' strategy, rather than integrating into China's supply chain.
The Survey highlights India's growing electronic exports, particularly in mobile phones, as a key area of growth.
With multinational companies shifting away from China, India has a unique opportunity to attract Chinese investments and boost its manufacturing exports.
The government's PLI scheme, offering tax breaks and subsidies, is crucial in attracting companies to set up operations in India, especially in the electronics sector.
Major tech companies like Apple and Google are already increasing their production in India, signaling a positive trend for the country's manufacturing landscape.

Source: Inc42