Submission + - India Falls Short of Its China Plus One Promise (indiadispatch.com)
An anonymous reader writes: For the better part of a decade, some of the world's biggest companies have been trying to cut reliance on China. India was widely expected to be a big winner. Five years on, and after billions in government subsidies, its gains are real but narrow. Between 2016 and 2025, China's share of U.S. goods imports fell to 9% from 12%, and most of what it lost went to Taiwan, Vietnam and Mexico.
India assembles 28% of the world's iPhones and exports almost 80%, mostly to the U.S. The more valuable components are still made abroad, and manufacturing's share of India's economy has barely moved in a decade.
India assembles 28% of the world's iPhones and exports almost 80%, mostly to the U.S. The more valuable components are still made abroad, and manufacturing's share of India's economy has barely moved in a decade.