Healey: China is looking to recruit everyone away on campuses

Healey: China is looking to recruit everyone away on campuses

Uttar Pradesh (UP) has emerged as a significant player in the global manufacturing landscape by adopting the China + 1 strategy, aimed at attracting international firms and enhancing its status as a global manufacturing hub. The state government, under Chief Minister Yogi Adityanath, has been proactive in leveraging the China + 1 strategy to diversify manufacturing and supply chains, positioning UP as a key destination for foreign companies [1].

The China + 1 strategy has gained considerable traction, with numerous global firms expressing interest in UP. According to official data, the state has attracted investments from countries such as the United States, Germany, Japan, and China, among others. Specifically, 30+ companies from the United States, 30 companies from Germany, 20 companies from Japan, 14 companies from China, and 7 companies each from Switzerland and France have shown interest [1].

The Production Linked Incentive (PLI) scheme of the Government of India has been instrumental in driving this investment surge. As of now, UP has seen 574 PLI projects approved, with 70 companies already operational, 11 new projects under implementation, and 20 companies having signed Memorandums of Understanding (MoUs) with the UP government. Additionally, 473 companies are under active follow-up [1].

To facilitate smoother conversions of investment leads, the state government has established country-specific desks. Furthermore, a unique investor facilitation mechanism has been introduced, appointing account managers for 814 companies, including Fortune 500 and India Next 500 firms, representing diverse sectors such as telecom, shipping, retail, petrochemicals, insurance, and banking. This has resulted in 50 new MoUs signed and ongoing talks with 282 more companies [1].

Several factors contribute to UP’s growing appeal among investors. These include strong political leadership, robust infrastructure, the state's position as the largest consumer market in India, improved ease of doing business, and an abundant skilled and cost-effective workforce [1].

The China + 1 strategy, which involves diversifying manufacturing and supply chains to countries outside China, has been effectively adopted by UP. By seizing this opportunity, the state is positioning itself as a major hub for global industries, thereby boosting its manufacturing vision [1].

References:
[1] https://indianmasterminds.com/news/government/uttar-pradesh-china-plus-one-strategy-global-manufacturing-hub-142014/