Thousands of Companies from America, Japan and Korea leave China & Coming to India for Business

China is constantly claiming to the world that Coronavirus has gone away from it forever and people are celebrating it, on the other hand, China is making a huge profit by selling large quantities of medical supplies and testing kits to the world. There is a lot of excitement in China about this, but this enthusiasm of China is going to cool down soon. This is because all countries are thinking of getting their companies out of China on a large scale. Japan has already announced this, now South Korean and American companies also want to move out of China and the Indian government is looking for this opportunity.

According to the Trade Promotion Council of India, the Indian government is now trying to present itself as a good alternative to China. The Indian government has been continuously holding high-level meetings to ensure that the anti-China anger in East Asian countries is used to its advantage. Good results have also started showing. Actually, companies of South Korea and America are considering coming to India after covering all their goods from China.

According to an Economic Times report, around 200 American companies can shift their manufacturing units to India. According to Mukesh Aghi, president of the US-India Strategic and Partnership Forum, these American companies are constantly brainstorming on how India can be raised as a good option for China by investing in India. Mukesh Aghi also said that India should execute more reforms to ease trade in the country as soon as possible.

According to another Times of India report, Korean companies are also willing to leave China and enter India. Many Korean companies are in constant contact with the Korean Consulate in Chennai. According to Korean Consulate Deputy Counsel General Yup Lee, the Indian government wants Posco and Hyundai Steel to set up their factories in Andhra Pradesh, India. According to sources, they need 5 thousand acres of land and port connectivity. According to Lee, many other Korean companies want to come to India as soon as possible, but due to the Wuhan virus, it may be delayed a bit, with the demand for cars in the global market still less.

Similarly, many experts in the country believe that the government should also take immediate steps to woo Japanese companies coming out of China so that they can establish their business in India by not going to Malaysia or Southeast Asia.

Overall, all the countries are in the mood to teach China a lesson, due to which all the companies present in China have realized that it would be right for them to get out of China at the earliest. Just a few days ago, there was a phone conversation between India’s Prime Minister Narendra Modi and Japan’s PM Shijon Abe in which there was a discussion between the two countries to increase economic cooperation in the Covid-19 era. Let us tell that the Abe government has given a $ 2 billion fund to Japanese companies working in China to cover their bags and start production in Japan. Japan has proposed $ 21.5 million assistance to those Japanese companies on production outside China. The Government of India now wants to bring these companies to India and if it succeeds in its efforts, then soon India can become the manufacturing hub of the world instead of China.