Re: ‘Replace China’: India looks to lure over 1,000 US businesses Quote:
Originally Posted by kiku007 Attachment 2003081
"out of the frying pan (and) into the fire". I guess that's how sceptics in those 1000 companies would be looking at the offer.
I think that's very relevant for businesses even today. They want to maintain their dominance on profitability. I don't think India is a safe sanctuary that'll help businesses achieve that by moving away from China. Far from it. |
Well, it didn't take too long. https://www.reuters.com/article/us-c...-idUSKBN23V215
"Though no government notice has been issued, customs officers at major Indian port have held back containers coming from China, seeking additional clearances, government and industry sources have said."
The U.S.-India Strategic Partnership Forum (USISPF), a lobby group representing U.S. firms, told India’s commerce ministry in a letter dated June 23 that lack of clarity and delays could disrupt business and manufacturing operations.
“Authorities have abruptly halted the clearance of industry consignments coming in from China (and perhaps other destinations) at most major ports and airports,” USISPF said in the letter, seen by Reuters.
“ This will send a chilling signal to foreign investors who look for predictability and transparency,” it said.
Indian electronics and mobile industry group ICEA said its members had been told Chennai, Mumbai and Delhi Airports would have a new examination procedure for all consignments coming from China.
Normally, goods for regular importers are cleared automatically, ICEA said in a letter to the finance ministry, urging it to intervene.
India’s finance ministry, which oversees the customs department, did not respond to a request for comment. |