AutomobileDiseaseEconomyHeadlinesHealthIndustryInformation TechnologyInternationalKarnatakaMysoreNationalPharmaceuticals

Make in India, made in India… a possibility

By Pradyu M

If the Indian political leadership, the business and the industrial entrepreneurs and magnates play their cards well, then the nation is sure to witness a revolution post the COVID-19 crisis. And this is because thousands of multinational companies are considering to move their manufacturing bases from China to India and other business-friendly Asian nations.

The companies that are planning so include very popular automobile, mobile, electronics, medical, textiles and other branded establishments.

Most of these that have Japanese, Korean, European and American collaboration now are looking at India as an alternate manufacturing hub.

Nations that so far relied on China have decided to relocate as a result of the Chinese failure in encountering the COVID-19 crisis and also it’s secrecy and lack of transparency in tackling and helping the world nations to deal with the crisis. The United States has come out in the open criticising the Chinese for the same and along with it, various European nations have also raised their fingers toward the dragon nation.

Watching the move the Indian government has come out with a lot of reformation in the business sector. It has reduced the corporate tax and doing all sorts of calculations and steps to woo foreign investment.  Besides the reduction of the tax rate, the implementation of a single tax structure in the form of Goods and Services Tax (GST), foreign companies are also bound to get attracted to the Indian market as it is a very big one with a huge potential of consumers.

Availability of skilled manpower, hard-working labour, raw material and global accessibility also can do wonders for these companies and indirectly boost our economy. Therefore the political leadership and our industrial bigwigs have to move their pawns cleverly and carefully and turn things to their advantage which in turn will help benefit our nation.

(The writer is a regular contributor to City Today)

Leave a Reply

comments

Tags

Related Articles

error: