South Korean Companies to invest in India & shift manufacturing from China

Proud to see #India as the most favorable country for #business. Right from the time when East India Company came in to recently South Korean companies, who have decided to move units from China to India.

India is set to become a #manufacturing base for Korean companies like Hyundai Steel, POSCO

The Indian Gov will allot 2,000-5,000 acres of land to set up plants in Andhra Pradesh if they make investments

Moment of Truth for Korea:

Seeing Japan’s wise decision to move early into India (1980s) when Suzuki had set up its first car manufacturing plant near New Delhi, Korea regrets putting all its eggs in one basket

Deepak Parekh recently said, “We should make it easy for the Japanese to come to India rather than them going to Malaysia, Vietnam or Thailand”.

The Japanese Gov has invested $2 Bn to bring companies out of the communist nation, as a part of the de-risking strategy

So far no actions have been carried out on this due to #covid19 & low demand

~After World War 2, US emerged as a stronger nation

~After 2008 recession, the China hustle began & it soon dominated the world

~After 2020, it seems that India being just a developing country, would become the top choice for many

Do you believe in India’s potential to soon develop into a developed nation?

Via: Radhika