India is targeting companies including Apple, Foxconn and Wistron, encouraging them to shift business out of trade war-hit China.
The document said the government will meet companies between Aug. 26 and Sept. 5 to suggest the best investment zones for their operations. State governments will also participate.
A "complete package" detailing market factors and Indian incentives on offer will then be readied for presenting to potential investors, according to the government record of the Aug. 14 meeting seen by Reuters.It is not clear whether the government will dole out new incentives or just detail existing ones, but the document shows India wants to explore opportunities and move swiftly, even as some fear it has missed the bus.
As companies think about rebuilding supply chains outside of China, a major global manufacturing hub, nations such as Vietnam have emerged as top destinations given the faster clearances and stable policies they offer, industry experts say.'s Google is shifting its Pixel smartphone production to Vietnam from China starting this year, the Nikkei business daily reported on Wednesday.
"There is one other monster country that has a huge domestic market, India, but they have got to get moving," said Richard Rossow, a U.S.-India specialist at the Center for Strategic and International Studies in Washington. "There is no time to waste in catching that new wave and in fact the question is: Have they already missed it?"The Sino-U.S. trade war has also rattled global automotive supply chains and affected big automakers.
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