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    Lessons from Hanoi: What India can learn from Vietnam’s blueprint to replace China as a manufacturing hub

    A worker is drying incense sticks - a traditional incense of Vietnam in Cau Bau market, North Vietnam

    Synopsis

    Vietnam benefited a lot as companies shifted out of China in 2018-2019. The Southeast nation’s transformation has some lessons for India to become a global manufacturing player.

    Forget China, India should first try to replicate the Vietnam model before aiming to be a global powerhouse in manufacturing, say experts.The race among some Asian countries to attract manufacturers began after policymakers in Beijing — the seat of the dispensation that governs the “factory of the world” — started facing stiff trade challenges since the Donald Trump presidency. Issues around Covid’s origin and its disruptions fanned anti-China
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    The Economic Times