India ranks third in global manufacturing, according to report
As a result of a pandemic induced disruption, manufacturing in India is gaining impetus. With manufacturing being restricted to only one location, it is important that it is diversified to overcome and future disruptions in supply chain. India is in a good position to capitalise on this opportunity and turn into the next ‘Manufacturing Hub’.
According to property consultant Cushman & Wakefield, India now ranks third in the list of most-suitable locations for global manufacturing among 48 countries in terms of cost competitiveness and operating conditions. Meanwhile, China and US have retained their top two positions, India has moved one place higher to rank third, as per the consultant in its Global Manufacturing Risk Index (MRI) report.
In its annual ranking of the most suitable locations for global manufacturing among 48 countries in Europe, Americas and the Asia-Pacific, the consultant said India is in top-3 countries this year and an upcoming manufacturing hub globally from an operating conditions and cost-competitiveness perspective.