Romal Shetty, CEO of Deloitte-South Asia, revealed that several Japanese, US, and European companies are relocating their manufacturing operations to India. “This is a shift that is happening,” he stated, highlighting the growing trend of foreign firms considering India as a viable manufacturing hub.
Shetty noted that India’s production-linked incentive (PLI) schemes have significantly attracted foreign investment. He pointed out two additional factors contributing to this trend: “We have robust domestic consumption, which is beneficial, and we are not solely reliant on export markets.”
When asked about the “China-plus-one” strategy, Shetty affirmed India’s capability, stating, “If there’s one country that is capable, it is India.” He acknowledged that while other countries could also participate, they can only do so at smaller scales.
