India slowly acquires a market share for exporting electronics from China

A new study has shown that India is working to reduce China’s dominance of electronic exports in some major markets, where manufacturers are diversifying supply chains from China, which is the world factory to other parts of Asia. The impact has emerged more clearly in the United Kingdom and the United States, where geopolitical tensions have increased with China over the past year. India’s export of electronics to the United States as a ratio of China to 7.65% in November last year from 2.51% in November 2021, according to Fathom Financial Consulting in London. In the UK, the share rose to 10% from 4.79%. The Indian government is working to attract electronic manufacturers to the country by providing significant incentives, such as tax cuts, discounts, land purchase and capital support. It aims to increase the local manufacturing industry to export more, and to help companies grow to a global range through partnerships. India needs an annual growth of 8% to overcome China’s contribution to the global economy. India is the largest cellphone factory for Samsung Electronics, while Apple is manufactured at least 7% of all “iPhone” devices in India by the manufacturer with IT “Foxconn Technology Group” and a company Pegatron. Foxconn investments in India increased Andrew Harris, the economist at “Fathoom Financial Conelling” in a research note last week, that the increase in electronic exports is probably the result of the increasing “Foxconn” investments in India. Harris said that the progress of India in obtaining a market share in Europe and Japan was more limited, showing the move to double supply chains (China is one plus) instead of completely dropping production in China, at least at the moment. The report shows that India’s exports of electronics as a percentage of China exports in Germany and 3.52% were worldwide. Indian businesses have become their role in the ‘One Plus’ strategy for multinational businesses, which testify that manufacturers develop backup capabilities in other countries. ‘Apple’ plans to double its production in India 5 times to $ 40 billion. The increase in India’s share in the market is a group of Prime Minister Narendra Modi, which promoted a plan “made in India” as a way to provide jobs and increase exports and make the economy more of self -dependent by reducing the need for imports. A third term is expected to win a third term in the election for several months.