Friday, December 27, 2013: Japan Bank of International Cooperation (JBIC) has conducted a survey which reveals China has dropped down to the fourth place, after being on the top spot since 1992. JBIC provides loans to Japanese companies and now the list is topped by Indonesia, India and Thailand.
This survey was conducted before China established a defence zone over the islands controlled by Japan, so it does not reflect the disturbance there. Out of the companies surveyed, about 77 per cent said that the rising labour costs in China besides social and security instabilities are the major areas of concern.
While this surely seems to be good news for India, but we just cannot take it so lightly. India has its own set of issues like the acute shortage of manufacturing bases that are falling less for our own target followed by the chronic power shortages and the abominable roads that plague the country.
However, there is surely some hope! In the recent National Electronic Policy, India plans to attract major manufacturers of electronics to our country, away from China, which is the biggest competitor.
