China's manufacturing dominance to stay for now: HKTDC

India is unlikely to overtake the manufacturing dominance of China, at least not for the next 10 years, despite its focus on 'Make in India' and availability of cheap wages.
"Cost of production is rising in China. Wages are three to four times higher than India but even then its manufacturing dominance is going to stay even if you speak about next 10 years," Hong Kong Trade Development Council (HKTDC) principal economist Dickson Ho told PTI in an interview.
Elaborating, he said manufacturing dominance would mean mass production and not specialised products like aircraft.
But focus of Chinese manufacturing and services companies for having 'alternate' base in India is growing strong and fast, he said.

HKTDC is working on finding alternative manufacturing bases for Hong Kong based companies with competitive business enviornment, Ho, who is on a visit to West Bengal, said.
He will also go to Orissa, Assam and Telegana during this visit to focus on opportunities in labour intensive industries and textile, clothing and footwear which are attracting special attention.

Ho, in his previous visit, had covered western and southern parts of the country for his research on competitiveness India offers in manufacturing with extensive study on the textile sector.
According to Ho, wage alone is not the key to set up business. Internal market and ease of doing business also hold great importance.

India's has a strong position in Asia for its huge internal market, he added.