It would seem that India along with other Asian countries like Vietnam has benefited from manufacturers moving out of China. China's productive capacity is starting to slip away when compared to India.
According to a recent Caixin study, continuing lockdowns in China are not aiding the nation's ongoing, decade-long production migration.
According to the paper, upheavals in Covid policy, growing labor prices, and escalating trade tensions between the U.S. and China have all contributed to the exodus from Asia, a region that is a production powerhouse.
Due to cheap labor and increasing local demand, Southeast Asia and India are vying to replace China. This is in line with Prime Minister Narendra Modi's "Made in India" campaign and India's political goals.
As an illustration, Apple announced earlier this year that it has switched production of the iPhone 13 from Foxconn in Taiwan to a plant in India. The research states that, like other smartphone manufacturers, it ha...
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