India Became The Second Most Attractive Manufacturing Hub
India became the second most attractive manufacturing destination. India has performed excellently in the world in manufacturing, it is yet to beat this neighbor.
India became the second most attractive manufacturing destination in the world, overtaking the United States of America.
Real estate consultant Cushman & Wakefield’s 2021 Global Manufacturing Risk Index has given this information.
India’s attractiveness as a manufacturing hub has increased mainly because of its efficiency on the cost front.
7 countries in Europe, America, and the Asia Pacific are included in the list
Cushman & Wakefield’s 2021 statement said that China continues to rank first in the Global Manufacturing Risk Index-2021.
The index measures attractive or profitable destinations for global manufacturing out of 47 countries in Europe, the Americas, and Asia-Pacific (APAC).
China at number one.
According to Cushman & Wakefield’s 2021 Global Manufacturing Risk Index report, India ranks second after China among the most sought-after manufacturing destinations.
The US ranks third, Canada fourth, Czech Republic fifth, Indonesia sixth, Lithuania seventh, Thailand eighth, Malaysia ninth, and Poland tenth in this list.
America second and India third in 2020.
The US was second and India third in last year’s Cushman & Wakefield’s 2021 Global Manufacturing Report.
Cushman & Wakefield’s 2021 Global Manufacturing said in a statement that this shows that manufacturers are showing interest in India as compared to the US and Asia-Pacific region.
Improvement in India’s ranking on a yearly basis.
India’s attractiveness as a manufacturing destination has increased due to operational conditions and cost efficiency, the statement said.
Cushman & Wakefield’s 2021 report further states that India has successfully met outsourcing needs. This has improved India’s ranking on a yearly basis.
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