Business
India Has Cheapest Manufacturing Cost Globally: Report
PTI
Nov 04, 2022, 08:49 AM | Updated 08:49 AM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
India has been ranked as the nation with the cheapest manufacturing cost ahead of China and Vietnam, according to a report.
According to the US News and World Report, out of 85 nations, India has bagged the 31st position in the overall Best Countries ranking.
India featured at the 37th spot in the 'Open for Business' category.
The report evaluates 85 countries across 73 attributes. Attributes are grouped into 10 sub-categories, including adventure, agility, entrepreneurship, open for business, social purpose and quality of life.
Under the open for business sub-category, India has scored 100 per cent when it comes to cheap manufacturing costs. But in 'favourable tax environment', it has scored 16.2 out of 100; 18.1 in the 'not corrupt' category and 3.5 in 'transparent government policies'.
Similarly, under the 'quality of life' segment, India has scored 1.9 in 'income equality'; 4.3 in 'safe'; 2.3 in 'well-developed public health system'; and 9.9 in 'economically stable' sub-parameter.
The government has taken steps such as rolling out production linked incentive schemes and reducing compliance burden with a view to make India a global manufacturing hub.
In the overall Best Countries ranking, Switzerland has topped the chart, followed by Germany, Canada, US and Sweden.
(This story has been published from a wire agency feed without any modifications to the text. Only the headline has been changed.)
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.