With Covid-19 which has affected millions in the world, China has faced repercussions which can destroy its relations and can lead to the fallout of its economy. While the other developing country like India has become “blessing in disguise,” and is likely to enjoy a substantial bargaining power in attracting big manufacturing units and industries looking for international trade.
India is a future of Globalisation, and why wouldn’t be? India has a powerful and stable government, a supply chain that is ample to satisfy the requirements and abundant natural resources like cotton, textile, coals and iron ore. And as India holds the majority of the millennials, in coming years there will be no shortage of well-educated workforce. On the other hand, we can also see India making a move by building up its supply chain, prepping the lands for the new manufacturing units, prioritising the labour reforms.
As the epidemic continues affecting the world, an estimation of 1000 companies was in an active discussion with the Indian authority. These industries shared their interests in developing manufacturing production plans relating to mobile phones, medicines, textiles, infrastructure and other FMCG goods. Apple and Hasbro are some of the names that were also involved in the discussion to move their China manufacturing unit to India.
You must have come across the news of the recent investment by the social media giant, Facebook Inc. The California based company has recently invested $5.7 million in the Reliance Jio, which is a pure reflection of optimism that international companies have in India’s rapid growth as a leader in Globalisation. To attract more market and benefit countries’ development in the post-COVID-19 era, India must fabricate certainty among foreign-born industries by guaranteeing them transparency and stability in different policies.
India’s response to the pandemic, welfare, healthcare and infrastructure sectors will be the key indicators for other countries to decide whether they want to operate or build a relationship with India or not. An incredibly careful methodology, bold reforms will have to be taken if the country is aiming to improve its standard of living and makes its place among the major superpowers. The development can only happen when there is a free progression of capital in the economy and the government takes effort in employing the backbone of the country – the skilled and unskilled labours.
And as India will attract more companies in its market, there will be more demand, more supplies and the challenges will increase. You can never control the potential risk of supply chain and quality of raw materials without a reliable corporate partner and that is where we as an experienced sourcing company enters.
Globalfair which is known for its 10,000+ verified suppliers will offer you a user-friendly experience in the line of importing and exporting goods. Our experienced team will handle all your procurement needs and help you regarding finding the right supplier, legal facts as well as procedures needed for shipping. We will connect you with the trusted companies so that there is a smooth flow of material and cash. All you have to do is get in touch and let us know the materials you require.
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