India ranks 24th as preferred global manufacturing destination
In a survey by Cushman & Wakefield, India has emerged as 24th most preferred global manufacturing destination in the world. The report is titled ‘Where in the World : Manufacturing Index 2014’. The report ranks 30 global manufacturing destinations across the world on factors that are likely to affect the successful operation of production facilities in these countries. Top 5 positions were occupied by Asian countries. Malaysia tops the survey, followed by Taiwan (2nd), South Korea (3rd), Thailand (4th) and China (5th).
Three broad parameters that were taken into account while ranking the countries were Conditions, Risk and Costs. India is ahead in terms of rank when compared to Spain, Italy, Germany and Belgium with cost being its major advantage on the global map of manufacturing. India ranks 12th globally in the cost category, due to availability of cheap labour, electricity property registration fee and overall construction cost, ahead of developed economies such as USA and Canada. However, due to economic and political conditions in India, the country ranks a dismal 30th.
Source: India Infoline
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