India's Chief Economic Advisor proposes leveraging Chinese FDI for local manufacturing and global supply chain integration.
India's Chief Economic Advisor suggests that the country could benefit more from Chinese Foreign Direct Investment (FDI) rather than relying solely on imports to tap into the "China plus one strategy". By integrating with China's supply chain or promoting FDI from China, India could potentially plug into the global supply chain and develop domestic knowledge and capabilities. The Economic Survey 2023-24 also recommends that India should focus on promoting Foreign Direct Investment (FDI) from China to strengthen local manufacturing and capitalize on the export market, especially as the US and Europe shift their sourcing away from China.
July 22, 2024
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