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India wants to establish itself as a preferred manufacturing base

Wednesday, August 12, 2020

India’s Foreign Minister Shringla said that his country’s democratic society could be a very attractive destination for foreign investment, and the comparatively high rate of education combined with a continued cheap labour force could be an attractive alternative for other existing markets. Therefore, the country wants to continue to improve conditions. Without naming any particular countries, the Foreign Minister said that the sole reliance on one location or region for investment and the resulting Indian imports or exports would have to be reconsidered. Instead, Shringla plans to develop India into an attractive and leading manufacturing base for investors at low cost.

production

Recently, political tensions and developments on the world market have put pressure on companies that had relied too heavily on just one foreign location. India could be a good alternative for these companies to expand their product range and secure their supply chain, said Foreign Minister Shringla. India’s functioning democratic system and prevalent transparency of authorities are factors that increase investor confidence. The Minister alluded to China, where the business practices and actions of the authorities have been criticised on several occasions by foreign governments and companies.

India’s Ministry of Foreign Affairs seeks to attract investors with simple rules for setting up a company and easy access to capital. Together with a skilled and large workforce and low production costs, India wants to grow into a leading industrial hub. For production, import and export, in many cases you need a corresponding certification of goods or production processes. We will be happy to advise you which India certification is relevant for you and carry it out for you.

Julian Busch

About the author: Julian Busch is the founder and managing director of MPR International GmbH

Publisher: MPR International GmbH

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Web: www.certification-india.com/en/

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