Apple, Micron Technology, First Solar: India is bagging mega tech projects that a few years ago would have been China-bound. But can this sustain?

This Article First Appeared In The Forbesindia On July 21, 2023

Global manufacturers are betting big on India. The current global supply chain is heavily dependent on China’s manufacturing capacity. But things are changing now, and many manufacturers around the world are looking for ‘China Plus One’. This term, which came into being back in 2013, is a business plan to avoid investing only in China and expand the business into other countries, and India seems to be the current favourable market for many. Over the past decade, countries like Vietnam, Thailand, Malaysia had emerged as the hot alternatives to China for the United States. Recent announcements, starting with Apple and more recently First Solar, suggest that India is the current favourite. Is it?