India stands at the pedestal of a new growth curve of rapid industrialisation. In the COVID-19 pandemic scenario, India has projected a more resilient and diversified economy to fight the crisis and projected as a major attractive destination.
India, on account of its large domestic market and low cost production base, is well-positioned to host new investments in a range of sectors, a report said.
It has listed sectors like textiles and apparels, electronics and consumer appliances, pharmaceuticals, medical devices, automobiles and components, capital goods, electrical machinery, footwear and leather products, chemicals and petrochemicals, food processing, plastic products and telecom equipment.
Recently, while trying to leverage its position as one of the top destinations for foreign investment in the country, Tamilnadu has set up a task team of bureaucrats to see if investments flowing out of COVID-impacted countries as a measure of supply chain diversification can be drawn into the southern State.
They have even signed pacts with industrial houses across the globe worth Rs 15,000 crore recently. Though an economic crisis looms large across the globe, experts predict that all things would be well for India in future.