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US-China Tension Can Spur India's Global Tech Hub Aspirations: Bloomberg

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  • The U.S.-China trade war can fulfill India’s aspiration to become the global tech hub capitalizing on the global shift in China’s manufacturing supply chains, Bloomberg reports.
  • U.S. growing focus on China-free supply chains in specific sectors and India’s membership in the Quad grouping with the U.S., Australia, and Japan will bode well for the country.
  • The nations held their first summit earlier in March, partly to resolve concerns about Beijing’s growing economic and military stature. India and China engaged in violent clashes along their disputed Himalayan border in 2020. Both the armies pulled back their troops in February to ease the tension.
  • Apple Inc (NASDAQ: AAPL), Amazon.Com Inc (NASDAQ: AMZN), and Samsung Electronics Co Ltd’s (OTC: SSNLFmanufacturing production shift to India and Southeast Asia further intensified the U.S. Chinese tensions.
  • The pandemic acted as a major boost, intensified by India’s launch of new productivity incentive programs, labor base, and flourishing domestic market for devices and internet services.
  • However, India will have to tackle manufacturing bottlenecks like excessive regulations, taxes, and non-coordination between the central and state government levels to attract more investors. India’s ability to develop smartphone manufacturing will be a major deciding factor considering China’s dominion status in the industry.
  • India could lobby Washington to attract Taiwan Semiconductor Manufacturing Co Ltd’s (NYSE: TSM) manufacturing plants.
 

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Posted-In: BloombergNews Tech Media

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