At the moment, not only US companies but other companies too are looking for an alternative to China
Facebook’s USD 5.7 billion investment in Reliance Jio in the midst of coronavirus pandemic is a reflection of the faith that foreign companies have in Indian economy’s potential and future growth, a top US-based India-centric business advocacy group has said.
In an interview to PTI, US India Strategic and Partnership Forum (USISPF) president Mukesh Aghi said the COVID-19 crisis has offered India the best opportunity to attract foreign investment and replace China as the world’s manufacturing hub.
You might also be interested to read: Only Negligent Employers To Be Charged For Covid-19 Cases, Clarifies Govt
“I strongly feel that once the COVID-19 crisis ends, India will have the best opportunity to attract hundreds of these (foreign) companies into the country,” Aghi told PTI. It will not only create jobs but also bring in investments and keep the Indian economy’s momentum going.
The multi-billion-dollar investment announced by Facebook in an Indian company in the middle of the coronavirus pandemic shows that India is still a very attractive market on the digital commerce side, he said.
Source: Business Today
