by Jacqueline Vong | 05 Aug 2021
The Bloom Report
As we saw the news of Covid-19 ravaging India between March and May of 2021, inquiries backed off on business development, overseas manufacturing, and production. Another set back into India’s goal to be taken seriously as the main alternative to China for manufacturing. However, the landscape in India’s currently is that their Covid case load has fallen to one-tenth of what the rate was in May 2021.
India can offer the best alternative to China currently. India has a younger work force and a cheaper one. The Indian government is forging ahead and supporting local initiatives. The ‘Atmanirbhar Bharat’ campaign announced last year by the Indian government was intended to further boost local manufacturing under its stated goal of making India economically self-sufficient
There is a concern about the quality of ‘Made in India’ products and testing standards that apply however, Indian factories themselves are hungry for diversification and development, and willing to invest in new technology while getting their products tested by the Bureau of Indian Standards for safety and quality to ensure quality assurance.
Josh Punin, from Source4India, has said that there have been a growing number of inquiries about India as an alternative source of manufacturing for many industries has been growing for the last six months and taking off in the last two months. He has said that the currently landscape in India is offering containers at one half the cost of containers in China and that there are more availabilities of shipping containers than China now. The momentum is really starting to pick up.
Even Chinese manufactures are starting to create joint ventures and partnerships with Indian companies and manufactures as their solution for overflow and consolidation as they realize that India is a good solution for themselves.
India continues to be a viable and strong alternative to sourcing and as seen above, it will continue to forge ahead to strengthen their footprint on the global stage.
For more information, contact Josh Punin – Josh@source4india.com or www.source4india.com
Josh and his partner David Selvaraj, a 33 years old veteran in the toy industry in India, are currently working with more than 20 factories that are in the process of various stages of development toys and many more categories
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