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India to take on China as world manufacturing hub
Source: Ddinews.gov.in – October 8, 2007
"Made in
Right now
But "there's a very keen interest in moving more manufacturing to
In fact, "
"What surprised us was when we asked about their plans for the next three or four years, they said outsourcing manufacturing (to
"If we look at the respondents' plans for the coming years, manufacturing will become the number one activity to be off-shored to
"The results in favour of
In fact, manufacturing outsourcing looks set over coming years to surpass
Right now,
But "the interest of global manufacturers in manufacturing in
However,
It has already taken some steps to promote an export-led manufacturing boom by setting up special economic zones or SEZs -- havens of economic freedom that drove
But even more "substantial investments" need to be made, Lenders said.
The lead factor driving
Chinese manufacturing wages are 250 to 350 dollars a month whereas they average 100 to 200 dollars per month or lower in
In
Analysts often point to South Korea's Hyundai Motor's one-billion-dollar car plant in the southern city of Chennai which opened in 1998 and turns out thousands of export-bound cars annually as an example of what could be the future for the Indian economy.
Hyundai has been moving production of its smallest cars to
Now other firms have followed suit.
All the international players "are looking at
Others setting up manufacturing facilities in India include Finnish telecom leader Nokia, South Korean steel heavyweight POSCO and US computer giant Dell.
And the companies don't only have their eyes on foreign markets.
"