India’s Future Fortune

India could be the next blue eyed nation for electronic industry all over the world and this can happen over a decade. You must be thinking, Why is it so? It has many aspects to understand, let’s take them one by one.
Today’s China is the biggest manufacturing market in electronic industry, all over the world, and also known as the world’s factory, but this was not true in Twentieth century. In 1980s India’s Electronic export was more than that of China. Both India & China were almost at the same platform but China takeoff from there and never look back.
In 1980s Industries in US and Europe were scaling up and looking to develop facilities around the world to reduce their production cost. As in Europe and US, the labour rates were high as 12-15$ per hour however, in Africa, India & China the labour charges were much lower.  Also the establishment in Africa was much riskier than that of in India or China.
As India was a young nation that time, the leadership was not very open to invite foreign players and Indian economy was also not very liberal. There were much red-tapism and business environment was also not very acquainted for foreign players to do the business.
In the contrary, China welcomes all the investors with both the hands. China facilitates them by creating 4 very large size Special Economic zones. China has also subsidies the raw materials for manufacturing industry. These were the main reasons for manufacturing sector development in China.
But in today’s world the standard of living has grown up and the expertise cost more to manufacturing industry in China. Manufacturing giants are on hunt to identify an appropriate location for adding their capacity outside China. Moreover the sanctions on China and deteriorating relationship with US are the biggest concern for big industrialists to establish/extend the manufacturing facility.
A last nail to the coffin was #rice size microchip found in China manufactured motherboards. The micro chip is suspected to be a surveillance device, introduced by Chinese intelligence, in Electronic goods (especially Computers). There electronic goods are now in use by many government agencies across the world.
India can encash the opportunity and attract the big players under Make in India banner. There are many initiatives taken by GOI such as special Electronic policy, Special Corridor for Investors etc. But it’s a long way to go ahead. I am very hopeful that from a projected electronic market of $1200 billion (Specially Artificial Intelligence) India can target $400 Billion +. This will boost the Indian economy and produce over 10 lakh employment in next 10 years.