India needs to improve contract enforcement mechanism and upgrade infrastructu
India needs to improve contract enforcement mechanism and upgrade infrastructure to attract companies looking to move away from China and seeking other investment destinations, feel experts.
The outbreak of Covid-19 has created unique opportunities for India, and the country should do its best to attract companies and investments as it would help in generating jobs, creating wealth and promoting ‘Make in India’, they said.
“With the global reliance on Chinese manufacturing bases exposed in light of the global pandemic, many countries are now looking at alternate manufacturing sites to increase their supply chains.
“Given India’s minimal labour costs, slowly reducing corporate taxes and relaxed bureaucratic red tape, India can poise itself to become the next manufacturing hub,” said Atul Pandey, Partner, Khaitan & Co.
However, in order to roll out the red carpet to global firms and present a credible alternative to China…