Good news for India as it leaves behind China, Bangladesh, Vietnam, Thailand, Philippines, ranks top in this list, it is…

This is a major boost for India and a setback for China. With this development, India is now more attractive for global companies looking to set up factories or outsource production.

India is quickly becoming a major global manufacturing hub and is now ahead of China in terms of manufacturing costs. According to a recent report by US News and World Report, India has the lowest manufacturing costs in the world. This ranking is based on a survey of 89 countries and considers labour costs, which directly affect overall manufacturing expenses. China, which has long been known as the “world’s factory” due to its low manufacturing costs, has now been pushed to second place. Other countries on the list include Vietnam in third place, followed by Thailand, the Philippines, and Bangladesh.

This is a major boost for India and a setback for China. With this development, India is now more attractive for global companies looking to set up factories or outsource production. This could lead to more foreign direct investment (FDI) and create more jobs in the country.

Experts say that this is a big achievement for India and could benefit the economy in a big way. However, they also say that India must continue to improve in key areas like infrastructure, skill development, and ease of doing business. These steps will help India maintain its position and become a true global manufacturing leader.

The full list of the top 10 countries with the lowest manufacturing costs includes India at the top, followed by China, Vietnam, Thailand, the Philippines, and Bangladesh. Interestingly, Pakistan does not appear on this list. The country is currently facing a deep economic crisis and has very little industrial growth.

India’s rise as a manufacturing powerhouse is a sign of changing global trends. With lower costs, a large workforce, and improving infrastructure, India is now a strong choice for international companies seeking affordable and efficient production options.

This recognition comes at a time when many global firms are looking to reduce their dependence on China due to rising costs and geopolitical tensions. India’s new position could help it take center stage in the global supply chain in the years to come.

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