Washington: In view of the trade war brewing between the United States and China, nearly 200 US companies have started preparations to move operations from China to India. A group of US entrepreneurs informed that this decision has been taken taking into consideration the progress and Stability of the Indian economy. Since the last two years, US businesses have started moving their factories and offices out of China, because of the US-China trade war. The leading smartphone company, Apple also started its manufacturing facility in India.
Mukesh Aghi, President of US-India Strategic and partnership Forum, informed that the companies in China are consistently enquiring about India. This is a major jolt for China. There is a negative economic environment in China since the last few months, and China is trying hard to come out from it. But the trade war exists, and the United States is not willing for any compromise. Due to this China has to bear the hits to its economy helplessly.
US companies with huge investments in China are panicking due to this period of economic uncertainty. The move of these companies towards India had already become apparent. However, Mukesh Aghi revealed information regarding this and endorsed the move. India also has started preparations to become the global manufacturing hub. The Indian name is rising in the list of countries for ‘Ease of Doing Business’, and this too is in India’s favour.