Lipika Sharma Haryāna India
India plans to attract 1000 US firms
As we all know China has been accused of spreading covid19 and not giving proper information about it, many countries are planning to reduce their dependence on China.
In the wake of this many big countries have already started to plan to leave China .
India is seeing this as a big opportunity to boost it's economy and increase employment.
However, many companies are choosing countries like Vietnam over India because of Vietnam being active in signing bilateral trade with other countries , over the past few years with the countries throughout the world.
The U. S. Secretary of State ; Michael Pompeo in a statement said " Us is in talk with India, other 'friends' to restructure supply chain.
India as mentioned earlier is looking it as an opportunity. It is already in talk with around 100 U. S. Companies, offering them incentives for manufacturing.
India is also ready to do changes in its labour laws, which seemed to be one of the major problem in attracting foreign companies .
India has also improved 130 billion rupees worth of investments to make more bulk drugs and medical services and to boost manufacturing of drug ; so as to reduce its imports from China.
However there's a lot that India need to do. #IndiaUSdeal #INDIA #US