Can India Wrestle Supply Chains Away From China?

(jingdaily.com) - In April, investor and founder of Mobius Capital Partners, Mark Mobius, told CNBC’s “Street Signs Europe” that global companies will move their supply chains further away from China post-COVID-19. “A lot of buyers and a lot of the people depending on the supply chain in China are now having second thoughts and are beginning to diversify their supply chain as much as possible to be closer to home,” he said. Considering that various Asia-Pacific countries are rebuilding and reimagining their supply chains, Mobius’ assessment isn’t too far-fetched. According to the latest EY Capital Confidence Barometer report, 67 percent of Asia-Pacific executives are undertaking measures to transform their supply chains, compared to 52 percent of respondents across the rest of the globe. Meanwhile, the World Economic Forum and Ernst & Young highlight that 55 percent plan to change their management of workforce (compared to 39 percent globally), 47 percent plan to improve their speed of automation (compared to 36 percent globally), and 39 percent plan to undergo digital transformations (compared to 31 percent globally). India has already started a powerful lobbying campaign to try and benefit from the backlash against its neighbor, China. In fact, The Economic Times’ ET Retail reports that India is designing a set of incentives for luring global businesses away from China.