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PM Modi signals push to attract firms that exit China to India

Byindianadmin

May 1, 2020 #China, #India
PM Modi signals push to attract firms that exit China to India

PM Modi discussing strategies to attract investments with his top ministerial colleagues. (File photo)

NEW DELHI: Prime Minister Narendra Modi on Thursday signalled a major push to boost investments in the country and capture a part of the supply chain that is expected to move out of China as global corporations look to diversify their production base in the aftermath of Covid-19.

Modi discussed strategies to attract investments with his top ministerial colleagues, paving the way for a comprehensive strategy paper to be formally cleared by the cabinet in the coming weeks.

Coronavirus outbreak: Live updates

The meeting comes days after the PM spoke about the need to make India self-dependent following supply lines for crucial drugs, electronic goods and chemicals getting affected in February when production around Wuhan, the source of the novel coronavirus, was disrupted.

Plug-and-play model on cards to woo companies

Although the government had been working on a “China plus One” strategy for the past few months, it has gathered momentum amid signals that countries will also encourage their compa

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