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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

Premium

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

5 min read Last Updated : May 08 2020 | 12:57 AM IST

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