Strength Through Diversification: Opportunities across Asia Pacific

INDIA

Firstly, its huge consumer base – some 473 million people – is second only to mainland China, which creates demand for product. Combining this demand with the availability of a large and relatively inexpensive labour pool not only with domestic policy to supports domestic production has seen significant growth in the sector. The government’s Production Linked Incentive (PLI) scheme, which was introduced in 2020 to boost manufacturing and reduce imports, has now been expanded to cover 14 sectors. While this has come at an expected cost of USD24bn, it is forecast to generate a minimum of USD500bn in production value by 2026. While these factors have helped drive the domestic market, they also provide a strong foundation to build India’s export capabilities. The Indian Government has also lent a hand here through numerous trade agreements. In aggregate, India shares preferential market access and economic cooperation through

In recent years, India has experienced significant expansion within its industrial sector, driven on several fronts.

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MARKET FOCUS