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U.S. companies looking to move manufacturing from China turn to India

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U.S. companies to seek manufacturing alternatives abroad to shield themselves from future geopolitical fallout and a slowing Chinese economy.

The pandemic lockdown, escalating tensions between Washington and Beijing, as well as the latest semiconductor ban have prompted

India’s electronics exports have surged over the past three years, jumping from about $7 billion in 2019 to $22 billion in 2023, CEIC global data shows. “India is an incredibly exciting market. It is a major focus for us,” said Apple CEO Tim Cook in the company’s 2023 Q2 earning’s call in May. “The dynamism in the market, the vibrancy is unbelievable.”

 

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