India has stepped up its game to attract investments from companies looking for newer avenues and those considering shifting from China amid the coronavirus pandemic.
A list of close to 1,000 global companies has been prepared by Invest India for investment pitches, CNBC-TV18 reported. Invest India is a government arm under DPIIT to promote and facilitate global investment in the country.
The companies targeted for investment pitches cover 10 sectors – electronics systems design & manufacturing, auto, capital goods, textiles, mining, renewables, metal, pharma, medical equipment, and oil & gas.
The countries being targeted include the United States, Japan, Germany, Taiwan, France and the Middle East.
Foreign companies based in China, with a strong focus on exports, will also be approached, as per the report.
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The companies were shortlisted based on 28-30 parameters such as balance sheet, supply chain expansion plans, presence of competitors in India and G2G relationship, sources told the channel.
The source added that COVID-19 could be a catalyst for global companies to set up alternate and resilient supply chains.
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