India Set to Beat US Into 2nd Place in Manufacturing

India is slated to become the world's second-most competitive destination for manufacturing operations, after China, within five years, according to a new study by Deloitte Touche Tohmatsu and the US Council on Competitiveness.

Brazil will likely occupy the third slot according to the study, reports India's Hindustan Times newspaper.

"India is rated this high mainly because of its huge talent pool, its strong domestic demand and and the incredible geographic position," the paper quoted Deloitte global leader manufacturing Timothy P Hanley as saying.

Hanley added that the expertise India has in services can be replicated in manufacturing as well provided challenges like education and infrastructure development are addressed, the papers said.

India's manufacturing sector has made large strides over the past decade, despite continuing problems with electricity supply and transportation infrastructure, as well as strict labor laws. However, most of the growth has been driven by domestic consumption of items like automobiles, refrigerators and the like, in contrast to China.

via CNBC

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Stuart McPhee

Stuart McPhee

Senior Currency Technical Analyst at Market Pulse
Stuart McPhee has nearly 20 years’ experience as a private trader and he specializes in technical market analysis of major currency pairs. He is the author of several bestselling trading books, most recently the fourth edition of his popular book “Trading in a Nutshell” (John Wiley), and he contributes articles to daily newsletters and blogs. He produces articles and videos on the how-tos of technical trading. Living in Melbourne, Australia, Stuart speaks at conferences and events worldwide.
Stuart McPhee