India is now like a magnet, enticing major electronics manufacturers with new incentives for electronics production.
If India's incentive scheme is anything, it is brilliant and attractive – enough to entice tech giants like Google and HP to start producing Chromebooks in the country.
Even trillion-dollar corporations like Apple are allured by the Indian project – recently achieving the status of the largest exporter of mobile phones in India. And the tech giant's 'Made-in-India' iPhones hit the global market for the first time this September. Even Samsung, Kia, Boeing, Siemens, and Toshiba are not left out of the list of companies courting India right now.
Interestingly, the South Asia country's approach to attracting big manufacturing investments isn't limited to incentives alone. The government has also implemented comprehensive restrictions to control the influx of foreign electronic devices. It's a strategic blend of both persuasion and coercion, convincing these tech giants to take the plunge into the Indian manufacturing landscape.
Around 200 U.S. companies are actively exploring the possibility of shifting their manufacturing bases from China to India, according to the US-India Strategic and Partnership Forum (USISPF).
And with escalating tensions between Washington and Beijing, and major tech players actively shifting production from China, it is not unimaginable that India will seize the title of the world's largest global manufacturing hub, toppling China's longstanding dominance in the years to come.
Have a lovely weekend,
The most notable products from Made by Google 2023
Explore the full update from the Google event.READ MORE