The shift to India has been underway for years, but a cocktail of geopolitics and Indian manufacturing mean the elephant might be gearing up to take on the dragon.
Apple’s main chip manufacturer Foxconn has spent the past few months shaking hands with every Indian state premier the Taiwanese company can find.
Pune, a university city to the south-west of Mumbai, has plugged engineering students straight into companies such as Persistent IT, a software services company, and Mahindra, a truck and electric vehicle manufacturer.Big contracts with Microsoft, Facebook, Volkswagen and Mercedes-Benz keep these IT students busy in freshly built, company-adjacent campuses filled with state-of-the-art equipment.
A dedicated eastern freight corridor will link Ludhiana in Punjab and Dankuni in West Bengal via Khurja in Uttar Pradesh. A western freight corridor will link Dadri in Uttar Pradesh with Jawaharlal Nehru Port in Navi Mumbai, Maharashtra. In total, 3365 kilometres of track will be laid, with another 6127 kilometres of freight rail in the government’s sights.
Bain, a global consultancy firm, estimates that manufacturing exports from India could more than double from $US418 billion last year to more than $US1 trillion in 2028, driven by support from the Indian government and relatively low costs. It estimates that electronics exports alone will grow at an annual rate of up to 40 per cent.
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