NEW DELHI: India is developing a land pool nearly double the size of Luxembourg to lure businesses moving out of China, according to sources with the knowledge of the matter. A total area of 461,589 hectares has been identified across the country for the purpose, the sources said.
NEW DELHI: India is developing a land pool nearly double the size of Luxembourg to lure businesses moving out of China, according to sources with the knowledge of the matter.
Land has been one of the biggest impediments for companies looking to invest in India, with the plans of Saudi Aramco to Posco frustrated by delays in acquisition. Prime Minister Narendra Modi’s administration is working with state governments to change that as investors seek to reduce reliance on China as a manufacturing base in the aftermath of the coronavirus outbreak and the resultant supply disruption.
The four countries are among India’s top 12 trading partners, accounting for total bilateral trade of $179.27 billion. The foreign direct investments by the four nations between April 2000 and December 2019 stands at over $68 billion, government data shows.
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