India has been ranked third following China and the United States in the list of most-suitable locations for global manufacturing among 48 countries in terms of cost competitiveness and operating conditions, according to property consultant Cushman & Wakefield (C&W). India has moved one place higher, the consultant said in its Global Manufacturing Risk Index (MRI).

In its annual ranking of the most suitable locations for global manufacturing among 48 countries in Europe, Americas and the Asia-Pacific, the consultant said India is an upcoming manufacturing hub globally from an operating conditions and cost-competitiveness perspective.

"In the backdrop of the COVID-19 scenario, the government has reiterated its agenda to launch fresh measures that would give a boost to setting up of a more conducive environment to make India a manufacturing hub. At a time like this, India ranking amongst top-three on the most suitable locations for global manufacturing comes as a shot in the arm for the country," said Anshul Jain, managing director (India and Southeast Asia), C&W.

In cost scenario, India is at the third position after China and Vietnam. However, India ranks 30th in risk scenario. Countries that present lower levels of political and economic risks are ranked higher, the report said.

The annual Global MRI scores each country against 20 variables that make up the three final weighted rankings that cover conditions, cost and risk.

Fibre2Fashion News Desk (DS)

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