Will India become the "world factory",to replace China??
Everybody who is in the international business will note that China is a "world factory",the products are cheap and good quality.But,after dozens of years later, Now,we can tell that more and more buyers are coming to the India to import goods.
Have you note this issue? Your reply will be highly appreciated for me,coz i am doing bags business in China. I want to know the trend of my market....![]()
As far as low skilled jobs/work is concerned, I don't think India can replace China because, as per my info, the wages are still very low in China compared to India.
However, where the work requires relatively higher skills, India might replace China and other countries because India has huge numbers of educated people such as engineers, etc. As an example, please take a look at the following article:
http://blogs.timesofindia.indiatimes.com/Swaminomics/entry/how-india-beat-china-in
Finally, I believe that China is investing heavily in education; so, the skill levels in China might rise rapidly too. At the same time, the wage levels would also rise with the rising standard of living. As a result, China may do more and more of the better skilled production work that offers better wages. Therefore, the low skilled jobs might go to some other country, as Maheshji mentioned.