Hundreds of Chinese Companies Join 'Made in India' Program

© AFP 2023 / STRThis picture taken on May 12, 2015 shows Chinese workers making jeans at a clothing factory in Shishi, east China's Fujian province.
This picture taken on May 12, 2015 shows Chinese workers making jeans at a clothing factory in Shishi, east China's Fujian province. - Sputnik International
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Hundreds of Chinese companies expressed interest in the Indian government's "Made in India" program as China faces increasing economic difficulties as sources of cheap labor dry up.

India's government hopes that as the country moves toward becoming the "world's workshop," hundreds of Chinese companies will become part of India's industry.

China has actively entered Indian markets in recent years with Lenovo Group announcing that it began making smartphones in the Indian city of Chennai on Tuesday while Foxconn, the maker of iPhones, plans to open a plant in each Indian state. As China's internal economic situation becomes more difficult, and cheap labor becomes harder to find, Chinese companies are looking to India for expansion.

"Chinese companies have expressed a serious interest in participating in the Made in India program, while Indian companies hope to establish themselves in China," Secretary of India's Department of Industrial Policy Amitabh Kant told Sputnik.

Indian women work at the electrical wiring section of the OREVA E Bike manufacturing facility near Samakhiali of Kutch district, some 240 kms from Ahmedabad on May 24, 2012 - Sputnik International
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After Prime Minister Narendra Modi came to power, he gave 18 Chinese energy and telecommunications companies permits to do business in India. India is also looking to boost its attractiveness to business through infrastructure investments.

"By 2022, India plans to receive up to 100 gigawatts of electricity from renewable sources. There are many advantages here. Local industry and paths for procuring supplies are very cheap," a representative of IBM India Prashant Pradhan said.

Chinese companies have also begun actively studying the Indian market. Over 70 representatives of state and private firms came to India from China's inland Hubei province alone.

"In recent years, economic and trade ties of India and China have noticeably strengthened. In 2000, trade between our countries amounted to only $3 billion, this year it grew to 72 billion," Kant added.

With the current rate of growth, it is estimated that as many as 100 Chinese plants will open in India in the next three to four years.

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