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Foreign companies encompassing business from China, more possibilities seen in India

Friday - December 13, 2019 4:37 pm , Category : BUSINESS
Samsung gets more 'interest' in India than China
Samsung gets more 'interest' in India than China

Soon India to get benefit from US-China trade war, millions of people to be employed

DEC 13 (WTN) - As you know, the trade war between the two largest economies of the world, America, and China continues at this time. Many economies of the world including India are facing economic slowdown due to the ongoing trade war between the two countries. But China is suffering a lot due to this trade war. Although the trade war between the two countries will stop in the coming times by then China will have suffered a lot due to the trade war. But where China is suffering due to trade war, India is going to benefit in the coming time.
 
Actually, foreign companies doing business in China are suffering heavy losses due to trade war. For this reason, many foreign companies are turning to India or reducing their trade from China to India or can take a break. For your information, let us know that the three-year-old office of South Korea's world-renowned company Samsung in Huizhou city, located on the banks of the Pearl River in North China has been closed in October 2019. Now this factory has been transferred to Noida and Vietnam. 
 
For your information, let us know that last year Samsung inaugurated the world's largest mobile factory in Noida. Faced with a huge loss due to trade war, Samsung has closed its last factory in China, since then other foreign companies are also preparing to move away from China to another country. It is being said that foreign companies are now seeing more benefits and freedom in India than in China. The Modi government has also made several announcements to provide foreign companies based in China to invest in India to open their own factories in the world's largest democratic country.
 
As you know, Samsung products in India are quite demanding. The reputation and dominance of this big South Korean company have been around the world for years. Samsung has a large market share in the electronics market of India. Talking about smartphones, Samsung has a 25 percent market share in this segment alone. According to the information, Samsung is looking for big business opportunities in India. It is being said that soon Samsung can shift its manufacturing unit in India.
 
Actually, a company like Samsung is going to shut down its business due to the continuously declining trade in China. Let you know that China is the world's largest market for mobile segments, including smartphones. In 2013, Samsung's share of this market was close to 13 percent, but due to trade-wise and increasing dominance of Chinese companies, this share of Samsung has reduced to just one percent. In such a situation, foreign companies, investing and trading in China, can open their manufacturing units in India.
 
In addition to electronic manufacturing companies, e-commerce companies are also planning to conclude their business in China. In this context, the world's well-known e-commerce company Amazon can also close its business from China and focus on the Indian market. Like Samsung and Amazon, many other big companies in the world can soon leave China and move towards India because these companies hope that they will get a good market to do business in India and more freedom from China.
 
It is clear that if these companies set up their manufacturing units in India, then this will increase foreign investment in the country and many people will get employment. Following the companies like Samsung and Amazon, many other foreign companies can also close their business from China and start their business in India. For the Indian economy troubled by the economic recession, these foreign companies doing business in India is nothing short of a golden opportunity. It should be hoped that these companies should set up their manufacturing units in India at the earliest, which will increase foreign investment in India and provide employment to the people.