Bloomberg, on April 4, citing India, is reserving a land bank of 461,589 hectares, more than 6 times the Singapore area (72,150 hectares), to entice companies to leave China for this country.
Of the land bank mentioned above, 115,131 hectares is industrial land in the states of Gujarat, Maharashtra, Tamil Nadu and Andhra Pradesh.
In India, investors who want to open factories must have their own land bank and this is considered one of the biggest obstacles preventing investment firms in India.
Prime Minister Narendra Modi’s government is said to be working with states to change regulations as investors seek to reduce their dependence on manufacturing facilities in China after the Covid-19 pandemic and due to the chain. supply interrupted.
China worries about global reaction risk due to Covid-19
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According to Bloomberg, India has selected 10 key industries to focus on promoting production and running Indian embassies in the countries to reach companies seeking investment and to set up production facilities. Some sources say that Indian investment agencies have received proposals from Japan, the United States, South Korea and China to relocate their production facilities.
In addition, the New Delhi government is also investigating the possibility of supplying land in the same special industries that are being vacated for investors.
The same day, Reuters quoted United States Under Secretary of State Keith Krach in charge of economic growth, energy and the environment, saying the government is accelerating dependence on China’s supply chain.
President Donald Trump has always wanted to bring manufacturing from abroad to protect American workers. With dissatisfaction with China’s handling of the Covid-19 epidemic, the White House has more reason to speed up the process. Some U.S. officials say the country has also agreed to take the company and supply chain from China to countries that are closer to the United States than those that are necessarily sent home.
