Vietnam giving India a run for its money in the China Plus-One game

The smaller nation is scoring high in attracting global corporations and their suppliers

In 2020, Chinese auto and electronics major BYD, Apple’s largest contract manufacturer of iPads, was looking to shift some of its capacity from China to India. But the move was shelved after geopolitical tensions erupted between the two countries and stiff foreign direct investment (FDI) rules were introduced for Chinese companies.
 

Now, two years on, BYD has just started rolling out iPads from Vietnam. It has invested $268 million to set up a new factory with a capacity to churn out 4.33 million tablets a year.
 

Vietnam’s gain is India’s loss. The two Asian countries have been aggressively wooing global