PM Modi Asks Chief Ministers to be Ready to Attract Companies Quitting China: Report

• China is known as the hub of electronics manufacturing for the world
• India is seen as a strong contender to be the next hub of electronics manufacturing

Prime Minister Narendra Modi has asked the chief ministers of several states to be ready to attract investments from companies quitting China. A report published in the Times of India states that the Prime Minister indicated towards attracting companies in a call with the heads of states for discussing lifting lockdown in India.

The report, citing a source, quoted PM of India as saying that several companies will explore locations beyond China to set up business. India should work on chalking out a plan to attract these companies.

China is known as the hub of electronics manufacturing

Whether it is manufacturing the smallest of components used in electronics, or manufacturing completely built products, China is known as the hub of electronics manufacturing of the world. A lot of world’s largest contract electronics manufacturers are located in the country.

Foxconn, which assembles and manufactures iPhones for Apple and other smartphone models for a lot of brands in headquartered in China. BOE, a manufacturer of display panels uses in various products ranging from smartphones to monitors to TVs is headquartered in China.

Similarly, India’s most selling smartphone brands including Xiaomi, Realme, Oppo and Vivo are headquartered in China as well. In fact there are more than 13 large companies that contract manufacture for biggest of the brands.

In terms of solar modules and solar panels, China is known as a leader too. India imports majority of these panels from China-based companies. The government of India had asked states to chalk out plans for setting up solar panel manufacturing parks in the country.

China also has a strong presence in the electric vehicles domain. Apart from manufacturing batteries and other components for electric vehicles, several China-based companies also manufacture and retail electric vehicle models.