As reported by India Today in their article “Explained: How China is slowly losing its position as the world’s factory,” China’s decades-long position as the world’s manufacturing hub could soon be replaced by India and other South Asian countries.
“For instance, India and other countries from South Asia are now rolling out the red carpet for major companies around the globe, hurting the lower spectrum of China’s industrial base. Simply put, China’s low-end manufacturers are rapidly becoming obsolete,” India Today said.
Aerostar has contributed to India’s growth in manufacturing by helping many of its customers to realign manufacturing supply chains out of China and towards India over the past five years or so. It has started over a dozen new projects for OEMs and tier1s in the last six months alone in the fields of automotive, agriculture, industrial pumps and compressors, electric vehicles, electrical and bearings industries.
Click here to learn more about Aerostar’s Global Sourcing and here to read the full article.
Article with all rights reserved, courtesy of India Today ——– https://www.indiatoday.in/
Photo with all rights reserved, courtesy of Canva ——– https://www.canva.com/