India can develop manufacturing ecosystem faster than China: Foxconn chairman Liu

livemint.com:

Foxconn Technology Group chairman Young Liu has backed India as an important country for the future of manufacturing, saying that the opportunities for development of electronics manufacturing and industrial chains was very huge. Speaking to media at a group event in Taipei, Liu said that India would be able to build the ecosystem faster than China, which took 30 years, on the back of experience and new technologies such as AI. “Some of India’s development over the past few years, everyone can see that.

The time has about come for India’s turn to start to fully develop as a country. If there’s no big change, India will be a very important country in terms of manufacturing in the future," the chairman said. “In the past, it took more than 30 years to build an ecosystem in China.

Of course, it will also take an appropriate amount of time in India, but because it has appropriate experience, the time will be shorter, so it will have many similar situations to those when China was developing but it will be different from 30 years ago. The environment is not quite the same. At that time, there was no generative AI, or even AI, but now there is AI.

Can its (India’s) development be entirely inferred from part history? I don’t think its perfect to speculate from history but we feel that development of the entire ecosystem and industrial chain, and the opportunities for development in India are very huge opportunities," Liu said. His comments come at a time when India is attempting to position itself as an alternative manufacturing destination to China, and supplier in the global value chains, amid geo-political tensions that were leading to global companies shifting some of the manufacturing capacities out of the country. The