Can India Be the Next, World Manufacturing Hub?
When the idea of first outsourcing came up, India was considered to be a third world country with limited economic potential but the scenario changed completely two decades later. India becomes the ultimate destination for outsourcing software services as well as the knowledge process. Now India is looking towards becoming a global manufacturing hub. The market size for manufacturing grew at an average of 8% year-to-year. Automobile, mobile brands already established their manufacturing bases in India. The manufacturing industry in India is still growing. Impact of COVID-19 Outbreak The outbreak of coronavirus which originated in Wuhan china, changed the global economy affecting hundreds of thousands of people.it continues to spread rapidly around the world but the burden is asymmetrically distributed. The virus has put many businesses and lawmakers on notice to move their supply chains out of China. Many of them are into a search to source materials or to establish manufactu...