China’s Manufacturing Industry Needs Upgrade to Counter India: State Media
Girish Shetti | | Jan 04, 2017 09:01 AM EST |
(Photo : Getty Images) With tough competition from the Indian manufacturing sector heating up, a popular state-owned Chinese tabloid urged China's manufacturing sector to rise to the occasion and enhance its efficiency.
A Chinese state-owned tabloid on Wednesday urged Beijing to upgrade its manufacturing industry in a bid to stop big multinational companies from investing in India.
An op-ed published in the popular English tabloid The Global Times especially took a critical note of Apple's decision to set a manufacturing unit in the Indian state of Gujarat.
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"If Apple expands in India, more global tech giants may follow suit and China is likely to see a further transfer of the supply chain given India's abundant supply of working-age labour and low labour costs," it said.
The nationalistic tabloid warned China that it cannot afford to lose manufacturing jobs as it has not made much headway in improving its local industry and also "while (US President-elect) Trump plans to draw manufacturing jobs back home."
It also pointed that India enjoys undue advantage over its neighbor on "low labor costs," claiming that Indian labors charge far less wage than its Chinese counterparts. To counter this advantage, the op-ed advocated Beijing to exploit low labor costs in its central and western regions.
"Certainly China has options. The country's central and western regions, with cheaper labour, could become an investment haven for manufacturers as these regions need capital to boost the local economy," the tabloid said.
The article also called on the Chinese government to carry out a major overhaul in the manufacturing industry by reorganizing technologies, talents, capital, and other resources. This, it argued, would create a conducive environment for investment and job opportunities.
The Indian government over the years has been busying reviving its latent manufacturing sector with its 'Make in India' project, which aims to portray India as an "emerging manufacturing hub" of the world.
Many analysts claimed that the 'Make in India' project is partly inspired by China's path-breaking success in manufacturing sector witnessed over the last few decades.
Tagschina, China’s Manufacturing Sector, China and India, India Manufacturing Sector, Chinese Economy, India
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