Covid-19 impact: India looks to lure more than 1,000 US firms out of China

In talks with Medtronic and Abbott on relocating units

Bloomberg New Delhi
US, American firms, make in india, made in china

US, American firms, make in india, made in china, according to sources.

India is seeking to attract US businesses, including medical devices giant Abbott Laboratories, to relocate from China as US steps up efforts to blame Beijing for its role in the coronavirus pandemic.
The government in April reached out to more than 1,000 companies in the US and through overseas missions to offer incentives for manufacturers seeking to move out of China, according to Indian officials who asked not to be identified.

India is prioritising medical equipment suppliers, food processing units, textiles, leather and auto parts makers among more than 550 products covered in the discussions, they said.
US President Donald Trump’s move to blame China for its handling of the Covid-19 outbreak is expected to worsen global trade ties as companies and governments move resources out of the world’s second-largest economy to diversify supply chains. Japan has earmarked $2.2 billion to help shift factor

Also Read

China communists 'will pay price' for hurting US economy: Pompeo

Tariff on China for mishandling virus outbreak 'certainly an option': Trump

China covered coronavirus' severity to stock up medical supplies: US report

'WHO is China's PR agency': Trump says evidence ties Covid-19 to Wuhan lab

WHO's regulatory arm clearly failed during coronavirus: Mike Pompeo

UP amends Mandi Act to facilitate direct procurement from farmers

Covid-19 crisis: UP exempts biz from all but 3 labour laws for 3 years

Cloud over online AGM for banks as they don't fall under Companies Act

Experts fear massive 40% fall in April GDP, call for unlocking of economy

Vehicle scrap policy soon; roads building worth Rs 15 trn in 2 yrs: Gadkari

First Published: May 07 2020 | 9:22 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to