* A slowdown, yuan’s steady appreciation over last few years and rising labour costs in China are switching MNCs attention to India as PM Narendra Modi’s “Make in India” campaign gathers pace
* Indian companies have clamped down on investments over the past 4-5 years as corporate sector delevered and a slump in demand
* MNCs such as Foxconn, Huawei, ABB , Siemens, Cummins, Alstom , however, are stepping up efforts to bolster facilities in India
* Foxconn looking to open 10-12 plants in India by 2020 and is in talks to manufacture the iPhone in the country
* China’s Huawei has got security clearance to manufacture in India for booming market
* Siemens’ management said in Nov. exports would be the focus for next two financial years