Narendra Modi’s “Make in India” amid China slowdown bodes well for MNC capex plays

By: | Published: July 22, 2015 11:12 AM

A slowdown, yuan's steady appreciation over last few years and rising labour costs in China are switching MNCs attention to India

Narendra ModiA slowdown, yuan’s steady appreciation over last few years and rising labour costs in China are switching MNCs attention to India

* 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

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