Key Points
India has a two-to-three-year window to capitalise on the global strategy of de-risking from China and the government needs to be very alert to come up with a set of policies that make the shift of businesses to India attractive and easier, NITI Aayog CEO Subrahmanyam said on Friday..
Addressing CII Global Economic Policy Forum 2023, Subrahmanyam further said India is in a sweet spot due to the outcome of geopolitics and the fact that the country has a young working-age population...
"So I think, in the next 15 to 20 years time span, India has an opportunity in manufacturing..
"This is going to be a two-three year phenomenon, and then supply chains will get frozen," he said.. Subrahmanyam pointed out that it is not just non-Chinese companies but even Chinese companies which want to move out of China because of labour shortages...
"So I think ...we need to be very alert to come up with a set of policies, a set of programs to make doing business and shifting business to India attractive," he said.. Subrahmanyam also pointed out India's customs rule doesn't allow import of used goods when companies shift the factory as they move pre-owned stuff..
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