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McKay Savage via flickr
Indian authorities are trying to capitalize on the trade standoff between China and the United States. According to Bloomberg, New Delhi plans to offer 324 companies, including Tesla and Glaxo, benefits and preferences in order to lure major manufacturers from China.
According to the agency, referring to a draft document prepared by the Department for the Development of Industry and Domestic Trade and Investments of the Ministry of Commerce of India, the government will provide land for manufacturers to build factories, as well as all the necessary infrastructure, including electricity, water supply, and the construction of the necessary entrances. Among the manufacturers to be lured in this way are Eli Lilly & Co., South Korean Hanwha Chemical, Taiwan's Hon Hai Precision Industry.
The trade war had already led manufacturers to reach out to Malaysia and Vietnam, but they avoided India because of the rather strict rules for acquiring land and labor laws.
source: bloomberg.com
According to the agency, referring to a draft document prepared by the Department for the Development of Industry and Domestic Trade and Investments of the Ministry of Commerce of India, the government will provide land for manufacturers to build factories, as well as all the necessary infrastructure, including electricity, water supply, and the construction of the necessary entrances. Among the manufacturers to be lured in this way are Eli Lilly & Co., South Korean Hanwha Chemical, Taiwan's Hon Hai Precision Industry.
The trade war had already led manufacturers to reach out to Malaysia and Vietnam, but they avoided India because of the rather strict rules for acquiring land and labor laws.
source: bloomberg.com
