On the other side, majority of the people think that China, being the homeland for this virus outbreak betrayed the entire world with this COVID-19 pandemic. So, many big companies want to shift their base from that country at this crucial juncture. Earlier, Trump clarified that many big American Companies are returning to their country and are leaving China.
Most recently, the mobile manufacturing company LAVA made its way out of China and is planning to establish their base in India with an investment of Rs.800 crores. This will happen in the coming five years. With this encouragement, the Indian government is urging the state governments to facilitate the multinational companies that are leaving China by providing them the required lands to establish their base.
For many companies, India is being considered as the only reliable option after they leave China. Already many companies have announced that the products they manufacture in India will be exported to China and the Indian government is looking to give tax relaxations for about 10 years for the companies which would establish their base in the sub-continent.
So, India may emerge as a superpower in the upcoming years due to this COVID-19 effect and all we need is to take care of the economy before this lockdown comes to an end and manage its after-effects efficiently. Let’s see how it goes.