100+ US Companies To Switch Their Plants From China to India 2020

 

Hey there, I am Rahul hope you are doing good and in this article, I am going to discuss the latest development happens in the manufacturing sector of India that 100 US Companies To Switch Their Plants From China to India 2020 so, A lot to know a lot discuss and I hope you will like this article and kindly make sure to read this article till the end.

Current Affair:

Good news for India came from 100+ US companies, that they are planning to shift their base from China to India in which the major US companies like Lockheed Martin, Honeywell, Cisco Systems, Adobe and some of global logistics companies like UPS and FedEx are in discussion with Uttar Pradesh government to set up manufacturing plants in UP, India. From the beginning of the trade war between US-China, US companies are planning to leave China and move their manufacturing plants out from China and set up a new base in some other country. During the trade war the corporate tax rate in India was high and due to lack of infrastructure facilities in India, some US companies shifts to Vietnam, and most of them remain in China thinking that US-China trade relations are strong so that there is no need to shift. In the last three months, the US economy falls due to COVID-19 and from the beginning of the Pandemic, most of the American leader criticizes China for spreading COVID-19, The president Trump launch Social media campaign to support Taiwan recognition in UN and the US spokesmen said that they have enough evidence to prove that COVID-19 was inadvertently leaked from Wuhan's Lab. The US companies by analyzing the current scenario between US-China One in Five US companies say COVID-19 will break US-China relations Faster than ever and finally felt that it is the time to Leave China and decided to shift their manufacturing plants out from China. Initially, the South Korean companies move their plants from China to India which includes major corporations like Hyundai and Posco, and now its US companies time. By taking advantage of this tense situation between US-China, the government of Uttar Pradesh invites 100+ US companies to set up their manufacturing plants in UP, India. The MSMEs Minister of Uttar Pradesh Mr.Siddharth Nath Singh who is the grandson of former Prime Minister of India ‎Lal Bahadur Shastri was in the discussion with the representatives of 100+ US companies through a webinar organized by the United States-India Strategic Partnership forum. During the webinar, the representative of US companies proclaims their interest in the sectors of Agriculture, electronics, Pharmacy, scientific instrumentation, logistics, defense, aviation, food process MRO, etc. to set up industries in Uttar Pradesh. The Global logistics service companies such as FedEx and UPS are in a plan to invest in Jewar airport to develop logistic centers in UP.

Top 08 US Companies To Switch Their Plants From China to India 2020

  1. Lockheed Martin
  2. Honeywell
  3. Cisco Systems
  4. Adobe
  5. UPS
  6. FedEx
  7. Master Card
  8. Boston Scientific

Why Uttar Pradesh is a Good Destination for US Companies?

Mr.Siddarth Nath Singh Promises to US Companies:
  • UP Government offers US companies with more than 9 Million MSMEs for collaboration to make their work easy and also promises to provide skilled labor at cheaper wages.
  • The government of Uttar Pradesh told that they are a stable government and ensure there will no issues in the future.
  • The MSMEs minister also told that they will provide good infrastructure facilities, Easy land acquisition, Good water supply, Irrigation facilities, and the most important 24/7 power supply.
  • He told that Uttar Pradesh is among the fastest-growing states among the large states in India.
  • He promised the representative to provide incentives such as capital subsidy and land subsidy, etc.

Conclusion:

This is a piece of good news for India and Indians and these type of development should happen in the country to bring India back to the track, I hope the government of India will attract more foreign companies in India to set up their manufacturing plants in India which is necessary to create employment opportunities in India. This is all you need to know about the latest development in the manufacturing sector of India and 100 US Companies To Switch Their Plants From China to India 2020, and I hope you have learned something from this article and hope you like this article. If you any suggestions or doubts regarding this topic or any other related topic then feel free to comment down below, if you want to contact me for any other business reason then you can reach me over here – Contact Us. If you like this article then forget to share this article with your friends and family who are interested in current affairs Thanks for reading…

Comments

Post a Comment