India is prioritizing medical equipment suppliers, food processing units, textiles, leather and auto part makers among more than 550 products covered in the discussions, they said. Both Medtronic and Abbott have a presence in India, which may make it easier for them to move their China supply chains to the country, according to an official. India’s trade ministry spokesman didn’t respond to an email seeking comment on the effort to lure US companies. Others like Tamil Nadu in the south and Uttar Pradesh in the north have offered concessions for those planning to move. “Companies realize that while large supply chains in China may have been economical, there’s no point in keeping all your eggs in one basket.”

Source: Hindustan Times May 07, 2020 06:17 UTC