The COVID-19 pandemic came across globally and hit the economy severely. Due to the pandemic, powerful nations stressed by their economy and political systems. This epidemic brings crisis but later it offers opportunities to many nations.
Why people looking for ‘China’ alternate, not other powerful nations?
In the last few decades, China rise as a super-powerful nation that actually strives with the USA. Due to its extreme growth rate, nations are looking for their alternate. Also, companies found difficulty in giving high wages and high import duty which leads to finding other suitable options.
And, now companies are looking for ease-business-oriented countries. These countries could offer them low-cost employees, and establishment with less investment.
Also, this epidemic arises from China. It bough anger against the nations and they refuse to use China’s products. Therefore, investors are exiting and peeping for a better investment place.
Why India become ‘New China’?
Under the leadership of PM Narendra Modi, India preparing policies to attract foreign investment. With huge potential, investors seeking India as a better and peaceful option.
India with a high labor force and low employment rate could offer good employees to the companies with a comparatively cheap rate. Values and ethics of ‘unity in diversity’ nation get attract investors globally. Also, the huge population of India is one of the reasons to start thinking about investing in it.
As people are looking to buy products under ‘Make in India’, so mass selling of products would be easier for such companies. Also, India is among those leading countries who are producing the highest number of technology-driven people.