A market survey reveals that as production cost in China is getting higher, there is a possibility that in near future India might replace the country to become the center of global manufacturing.
Capgemini and Prologis companies organized this survey and scrutinized over 340 multinational companies across the world and the result showed that India would compete for the status of the global manufacturing hub with China.
Presently, China is the first choice of western enterprises in manufacturing sector whereas, India tops in IT, finance and customer service. Ever since, production cost in China started increasing, west has started looking for places where the manufacturing cost is lesser.
Mr Salil Parekh, Chairman of Indian branch of Capgemini Company said that the manufacturing market in India has huge scope of development and it can topple the currently flourishing IT and BPO sectors in next 5 years.
Fibre2fashion News Desk - China
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