India beats the US to rank second of most attractive manufacturing hub globally; China first

China remains as the most favourable manufacturing hub for 2021 in the Global Manufacturing Risk Index. Which evaluates the most advantageous locations for global manufacturing of 47 countries in Asia-Pacific, Europe and the Americas.

Assembly line in China

The United States (US) have been overtaken by India to become the second-most sough-after manufacturing destination globally. This is mainly driven by the cost competitiveness according to real estate consultants of Cushman & Wakefield.

Currently in third position the United States, followed by Canada, Czech Republic, Indonesia, Lithuania, Thailand, Malaysia and Poland. In 2020 India was ranked at the third position.

It indicates that India is a more preferred manufacturing hub over other countries, including the US and those in the APAC region.

The rankings in the report are based on 4 key parameters, including the country's capability to restart manufacturing, business environment, operating costs and the risks.

When the scenario is based on the cost, India continued to retain the third spot.