India Struggles To Capture Manufacturing Shift From China

A recent Oxford Economics study reveals India has failed to attract a significant share of manufacturing relocating from China amid US-China trade tensions. From 2017 to 2023, India’s US import share increased by only 0.6%, while Vietnam’s rose by 1.7%. Despite initiatives like the “Make in India” campaign, India’s manufacturing contribution to GDP remains stagnant at around 16-17%.