India ranks as 2nd most manufacturing destinantion globally, replaces US

A report of Cushman & Wakefield, real estate consultant says that India has overtaken US as the most appealing manufacturing destination globally, putting India at 2nd place after China. rankings which were released last year showed India at 3rd place.

Cushman and Wakefield real estate agency ranks out of 47 countries spreading its leg across Europe, the Americas and APAC. There are primarily 4 reasons while ranking any country in the Global Manufacturing Risk Index:

• Country's capability to restart manufacturing
• Business environment (which includes availability of labour, talent, market accessbility) 
• Operation costs
• Risks associated (which includes social, environmental)

while country's operating conditions and cost effectiveness is also considered while ranking for top manufacturing places. China remains at number 1 position and here's the followed list: 

One of the possible reasons why India showed year-on-year increase in ranking is beacuse of it's successful ability to outsource the requirements. India is also focusing on improving and making more organised and feasible operating conditions and cost competitiveness. Another reason to compound is that the plants are relocating from China to other parts of Asia because of the US-China trade tensions.

"Despite being ranked 2nd there's a very tough journey to maintain its position and there's a long way for India to traverse as there are many geopolitical risks while running businesses or even restart after leaving a very devastating impact on the manufacturing businesses by the covid-19 virus."