《经济学人智库:2023印度制造业现状白皮书(英文版)(16页).pdf》由会员分享,可在线阅读,更多相关《经济学人智库:2023印度制造业现状白皮书(英文版)(16页).pdf(16页珍藏版)》请在三个皮匠报告上搜索。
1、A golden opportunity to become a global supply-chain hubIndias manufacturing moment LONDON Economist Intelligence The Adelphi1-11 John Adam Street,London,WC2N 6HT United Kingdom Tel:+44(0)20 7576 8000 e-mail: GURGAON Economist Intelligence Skootr Spaces,Unit No.1 12th Floor,Tower B,Building No.9 DLF
2、 Cyber City,Phase-III Gurgaon-122002 Haryana,India Tel:+91 124 6409486 e-mail:NEW YORK Economist Intelligence 750 Third Ave,5th Floor,New York NY 10017,United States Tel:+1 212 541 0500e-mail:DUBAI Economist Intelligence PO Box No-450056,Office No-1301A Aurora Tower Dubai Media City Dubai,United Ara
3、b Emirates Tel:+971 4 4463 147 e-mail: HONG KONG Economist Intelligence 1301 Cityplaza Four 12 Taikoo Wan Road Taikoo Shing,Hong Kong Tel:+852 2585 3888 e-mail:Contact usFor more information on our solutions and how they can help your organisation,please visit .The world leader in global business in
4、telligenceEIU offers deep insight and analysis of the economic and political developments in the increasingly complex global environment;identifying opportunities,trends,and risks on a global and national scale.Formed in 1946,with more than 70 years of experience,it is ideally positioned to be a com
5、mentator,interpreter and forecaster on the phenomenon of globalisation as it gathers pace,enabling businesses,financial firms,educational institutions and governments to plan effectively for uncertain futures.Actionable insight to win in the worlds marketsThe worlds leading organisations rely on our
6、 subscription services for data,analysis and forecasts that keep them informed about emerging issues around the world.We specialise in:Country analysisaccess detailed country-specific economic and political forecasts,as well as assessments of the business environments in different markets with EIU V
7、iewpoint.Risk analysisour risk services identify actual and potential threats around the world to help our clients understand the implications for their organisations.Available products:Financial Risk and Operational Risk.Industry analysisfive-year forecasts,analysis of key themes and news analysis
8、for six key industries in 60 major economies.These forecasts are based on the latest data and in-depth analysis of industry trends,available via EIU Viewpoint.Speaker Bureaubook the experts behind the award-winning economic and political forecasts.Our team is available for presentations and panel mo
9、deration as well as boardroom briefings covering their specialisms.Explore Speaker Bureau for more speaker information.INDIAS MANUFACTURING MOMENTA DETAILED ANALYSIS OF IMPROVEMENTSAND CHALLENGESIN THE COUNTRYS BUSINESS ENVIRONMENT AS IT STRIVES TO ATTRACT MANUFACTURING INVESTMENT.The Economist Inte
10、lligence Unit Limited 20231Indias role in the search for resilient supply chains 2Indias improving business environment 3Labour market:ample supply,but skilling a constraint 3Infrastructure:progress on easing bottlenecks 5Taxation and incentives:less complexity,more support 7Foreign trade and exchan
11、ge controls:bilateral progress,multilateral hesitancy 9Policy towards foreign investors:more active outreach 9Technological readiness:an emerging digital power 10In a regional tug-of-war for manufacturing investment 12ContentsINDIAS MANUFACTURING MOMENTA DETAILED ANALYSIS OF IMPROVEMENTSAND CHALLENG
12、ESIN THE COUNTRYS BUSINESS ENVIRONMENT AS IT STRIVES TO ATTRACT MANUFACTURING INVESTMENT.The Economist Intelligence Unit Limited 20232 India is well-placed to benefit from geopolitical and economic trends that are driving the diversification of Asias manufacturing supply chain.A strong,stable econom
13、y and access to a large labour supply will form the basis of its appeal to investors.Policy reforms are making it easier to do business in India.EIU predicts major improvements in areas such as infrastructure,taxation and trade regulation,which will reduce the risks associated with manufacturing inv
14、estment in the country.Stiff competition from peer emerging markets,especially in South-east Asia,will make Indias journey to becoming a major manufacturing power a long one.Excessive red tape and protectionist attitudes will remain challenges for investors.Over the last decade,global manufacturing
15、supply chains have been through a period of turbulence.Geopolitical strains between the US and China,the rapid adoption of e-commerce,the covid-19 pandemic and the Russia-Ukraine war have led to a rethinking of strategies for reshoring sourcing,the diversification of supply routes and the localisati
16、on of manufacturing.Many companies have become wary of supply-chain overreliance on China”the worlds factory”and are implementing or considering“China plus one”strategies aimed at building production across multiple markets.Indias role in the search for resilient supply chainsIndia is increasingly w
17、ell placed to capitalise on these trends.South-east Asian economies,such as Vietnam,have so far been the principal beneficiaries of supply-chain diversification.However,in the long term,India is the only single market that offers a potential scale comparable to that of China.Alongside intrinsic capa
18、bilities including solid economic fundamentals,a sound digital infrastructure and favourable demographics,improvements in the countrys business environment are reducing the risks that have previously acted to hold back major manufacturing investment.EIU can help to guide firms and investors consider
19、ing India as a location for manufacturing.Besides our in-depth policy and economic forecasts and operational risk analysis,our quarterly updated business environment rankings(BER)score 11 key pillars of a countrys business environment using a range of quantitative and qualitative indicators.Besides
20、providing insight into the strengths and businesses of a single market,the BER also helps in benchmarking multiple markets against each other.This could help to inform a decision about whether to invest in India,for example,or a South-east Asian economy.INDIAS MANUFACTURING MOMENTA DETAILED ANALYSIS
21、 OF IMPROVEMENTSAND CHALLENGESIN THE COUNTRYS BUSINESS ENVIRONMENT AS IT STRIVES TO ATTRACT MANUFACTURING INVESTMENT.The Economist Intelligence Unit Limited 20233Indias improving business environmentOur BER scores for India show that doing business in the country is becoming steadily easier.Improvem
22、ents across most of the BER category scores push its ranking to 10th in Asia in our 2023-27 forecast period,from 14th in 2018-22(we assess 17 economies in the region).The improvement is mostly attributable to gains in its scores for foreign trade and exchange controls,infrastructure and technologica
23、l readiness.Indias highest-scoring category is market opportunities,aided by the large and growing domestic market that the country offers,while political environment receives the countrys lowest score.Labour market:ample supply,but skilling a constraintIndias youthful demographic profile is a cruci
24、al advantage,promising good availability of labour.We forecast Indias working-age population to expand by almost 100m in the period to 2030,pushing it comfortably past 1bn,while that of China will fall by 40m to under 950m.Indias median age of 28.4 years compares with that of 38.4 years in China.Abs
25、orbing additional labour supply creates strong incentives for the government to develop the manufacturing sector.Ample supply and less onerous labour regulation will help keep a lid on manufacturing labour costs.Indias regulatory guidelines on labour have traditionally been complex,but a major simpl
26、ification in 2019-20 that amalgamated 29 pieces of labour legislation into four comprehensive labour codes has driven improvements,even while state-level variations persist in implementation.The codes simplify compliance by ensuring a single licensing mechanism for industries and provide operational
27、 flexibility for small and medium-sized enterprises.They also provide for faster dispute-Indias business environment score has improved across most parameters(10 represents the best possible score)Source:EIU.-222023-27Overall positionPolitical environmentMacroeconomic environmentMarket op
28、portunitiesPolicy towards private enterprise&competitionPolicy towards foreign investmentForeign trade&exchange controlsTaxesFinancingLabour marketInfrastructureTechnological readiness0246810INDIAS MANUFACTURING MOMENTA DETAILED ANALYSIS OF IMPROVEMENTSAND CHALLENGESIN THE COUNTRYS BUSINESS ENVIRONM
29、ENT AS IT STRIVES TO ATTRACT MANUFACTURING INVESTMENT.The Economist Intelligence Unit Limited 20234resolution mechanisms.With minimum-wage norms not being prevalent across Indian industries,the cost of labour,particularly for low-end manufacturing,is likely to remain modest.A low participation rate
30、remains a weakness in Indias labour market environment.The overall labour participation rate in India consistently falls short of 50%,below peer economies,mainly because female participation in the labour force remains extremely low.As a result,Indias labour force is smaller than that of China,even
31、though it has a larger working-age population.Gains in development and education will boost the participation rate,but it will remain a limit on potential.Low levels of literacy and technical skills are a further constraint.Secondary educational levels are still inadequate in India,giving rise to sk
32、ill gaps in the population.The average duration of schooling in India is only 6.5 years;this compares with 8.3 years in Vietnam and 8.9 years in Thailand.The governments skilling programmes will improve the quality of available workers,but these efforts India will see massive growth in working-agepo
33、pulation over this decadePhilippinesMalaysiaVietnamSri LankaThailandSource:EIU.(change in working-age population between 2020 and2030;m)Indonesia(-40.2)?India(113.5)China(18.2)(2.2)(0.2)(-3.3)(2.8)(12.5)Among large emerging economies,India boasts cheap skilled labour(average monthly earnings of empl
34、oyees in 2020 by skill level,US$)Sources:ILO;EIU.LowMediumHigh02004006008001,000MyanmarNepalLaosPakistanBangladeshIndonesiaSri LankaCambodiaIndiaBhutanVietnamPhilippinesThailandMaldivesINDIAS MANUFACTURING MOMENTA DETAILED ANALYSIS OF IMPROVEMENTSAND CHALLENGESIN THE COUNTRYS BUSINESS ENVIRONMENT AS
35、 IT STRIVES TO ATTRACT MANUFACTURING INVESTMENT.The Economist Intelligence Unit Limited 20235will take time to filter through into outcomes.In the meantime,these conditions mean higher training costs for companies engaging the workforce.Overall,the improvements in Indias labour market are set to mak
36、e it a more competitive location for manufacturing.Streamlining labour laws across states will remain a challenge over the next few years.However,improved infrastructure,low manufacturing wage rates and reduced risks from labour unionism will be helpful.Indias regional BER ranking in the labour mark
37、et category improves modestly from 16th in 2018-22 to 13th in 2023-27,above China,Sri Lanka and Bangladesh.Infrastructure:progress on easing bottlenecksGovernment initiatives are helping to address weaknesses in Indias infrastructure.Recent budgets have delivered strong increases in infrastructure-r
38、elated capital spending,geared towards defence,energy,telecommunications and transport.Flagship initiatives such as Bharatmala(a network of cross-country roads and highways),Sagarmala(connecting and developing port infrastructure),India needs to make greater strides in improving educational levels(p
39、ercentage of population,25 years and older,with secondary education)Source:Our World in Data.203040506070MyanmarCambodiaNepalLaosPakistanThailandMaldivesIndiaBangladeshIndonesiaSingaporePhilippinesMalaysiaHong KongVietnamSri LankaChinaCargo trafc at major Indian portshas risen(m metric to
40、nnes)Source:Indian Ports Association.Average turnaround time*Average pre-berthing time20020406080 280020020406080012345Efciency of Indian ports has improvedover time(average number of days)*The average time that a vessel spends at a port.The average time before a car
41、go ship is berthed at a port.INDIAS MANUFACTURING MOMENTA DETAILED ANALYSIS OF IMPROVEMENTSAND CHALLENGESIN THE COUNTRYS BUSINESS ENVIRONMENT AS IT STRIVES TO ATTRACT MANUFACTURING INVESTMENT.The Economist Intelligence Unit Limited 20236Udaan(the development of regional airports in poorly served des
42、tinations)and the National Infrastructure Pipeline(a set of infrastructure projects to be undertaken by 2025)are helping to deliver a more co-ordinated approach.Through these initiatives,Indias regional BER ranking for infrastructure will improve markedly,from 14th in 2018-22 to 10th in 2023-27,movi
43、ng it ahead of the Philippines,Indonesia and Vietnam.The infrastructure development under way will reduce logistic costs significantly,diminishing an impediment to manufacturing.A National Logistics Policy unveiled in September 2022 will reduce transport-related challenges and improve the cost-compe
44、titiveness of manufacturers.The infrastructure sector also has scope for private-sector participation,though given the typically long gestation period for infrastructure projects,the government will have to maintain the heavy lifting.Time and cost overruns will be a recurring challenge in relation t
45、o infrastructure projects.Despite a fast track on government clearances for industrial projects in recent years,difficulties in land acquisition and company leverage levels remain obstacles to progress.The clean-up of company balance sheets instituted under the Insolvency and Bankruptcy Code,and our
46、 expectation that the national government will ease land acquisition and leasing processes after the general election in 2024,will help to relieve these bottlenecks gradually.The road ahead for India in terms of infrastructure upgrade will still be very long.For example,Mumbai Nhava Sheva Port,which
47、 is Indias largest,ranked 35th on the global port capacity list in 2020,and handles only a tenth of the capacity at Shanghai(the worlds largest port).Other enablers,such as reliable and consistent electricity supply,intermodal freight transfers and inland waterways,need to be improved substantially
48、from current levels.However,industrial corridors being developed across the country will smoothen logistical challenges.The railway network has not expandedsignificantly despite investment(000 km)(000 km)Source:Ministry of Railways.2000 020406080 206070802000 020406081012141618
49、20 200120140160The national highway network hasexpanded rapidly in recent yearsINDIAS MANUFACTURING MOMENTA DETAILED ANALYSIS OF IMPROVEMENTSAND CHALLENGESIN THE COUNTRYS BUSINESS ENVIRONMENT AS IT STRIVES TO ATTRACT MANUFACTURING INVESTMENT.The Economist Intelligence Unit Limited 20237 T
50、axation and incentives:less complexity,more supportIndias taxation system has become less complex and cumbersome to navigate.The nationwide roll-out of the goods and services tax(GST)in 2017 has enabled a significant reduction in intra-country travel time,resolved state-level tax anomalies and check
51、post discrepancies,and added materially to government revenue coffers.Indias regional BER ranking for taxation moves from 16th in 2018-22 to 13th in 2023-27.The corporate tax burden has been lowered to encourage investment.In 2019 the government reduced the standard corporate tax rate from 30%to 25%
52、,while also offering a lower 22%opt-in tax,down from the standard rate of 30%,to eligible firms that choose not to avail themselves of certain deductions.Furthermore,the tax rate was reduced to 15%for any new domestic company incorporated from October 2019 which made fresh investment in manufacturin
53、g and will commence production before March 2024.However,a further lowering of rates and the streamlining of a complex taxation regime will happen only gradually.Incentive programmes have been widened dramatically.The Production Linked Incentive(PLI)schemes form the bedrock of the governments plans
54、to convert India into a global manufacturing hub.PLI schemes are operational in 14 sectors of the economy,including high-value-added manufacturing sectors,backed by around Rs2trn(US$25bn)of government support.Vehicles and auto components,speciality steel,advanced batteries,solar panels,mobile phones
55、,electronics components,pharmaceuticals and food processing have attracted investment because of attractive subsidies and quick approvals.Big-ticket investment projects in PLI-supported sectors such as steel will still take longer to secure approval and will therefore remain laggards.In the white go
56、ods sector,a quarter of approved companies have started production,but the remainder are in the process of making committed investments.The Industrial corridors being developed will be a gamechanger for the manufacturing sectorAmritsarBengaluruChennaiVizagKolkataMumbaiSource:EIU.DelhiAmritsar-Kolkat
57、a industrial corridorDelhi-Mumbai industrial corridorMumbai-Bengaluru economic corridorBengaluru-Chennai industrial corridorChennai-Vizag industrial corridorCorporate tax rates are relatively high inIndia,despite reforms(top corporate tax rate in 2021,%)Source:EIU.Thailand Vietnam Indonesia Malaysia
58、IndiaPhilippines055INDIAS MANUFACTURING MOMENTA DETAILED ANALYSIS OF IMPROVEMENTSAND CHALLENGESIN THE COUNTRYS BUSINESS ENVIRONMENT AS IT STRIVES TO ATTRACT MANUFACTURING INVESTMENT.The Economist Intelligence Unit Limited 20238government is expanding the PLI ambit to cover more sectors,in
59、cluding chemicals and petrochemicals and shipping-grade containers.The PLI schemes offered by the central government to support industries are matched by state-level actions.In special economic zones(SEZs)spread across Indian states,state taxes on goods and servicesalong with some national taxesare
60、exempted or discounted for a period(usually 5-10 years).Some states have also eased labour laws in the SEZs.The western state of Gujarat,for example,has offered an amendment to industrial dispute legislation to allow flexible employment in SEZs.Production Linked Incentive sectors span critical areas
61、 and industries of the futureSectorApproved financial outlay from the government over 3-5 years(Rs bn)Drones&drone components1.2Manufacturing of medical devices3.4High-efficiency solar photovoltaic modules45Electronic/technology products50White goods(air conditioners&LED)62Specialty steel63Drug inte
62、rmediates(DIs)/active pharmaceutical ingredients(APIs)69Textile products(man-made fibre segment&technical textiles)107Food products109Telecoms&networking products122Pharmaceuticals150Advanced chemistry cell(ACC)battery181Large-scale electronics manufacturing410Vehicles&auto components570Source:India
63、n Ministry of FinanceManufacturing sector projects have risen aftera period of stagnation(%share of manufacturing investments in total investments;fiscal years starting April 1st)(%share of new investment projects in manufacturing,2017-21)Source:Centre for Monitoring Indian Economy.Fresh projects ar
64、e concentrated in thechemicals sectorChemicals&chemical productsFood&agro-based productsMetals&metal productsMachineryTransport equipmentTextilesConstruction materialsConsumer goodsOthers200506 07 08 09 1011 12 13 14 15 16 17 18 19 20 235404550471310766643INDIAS MANUFACTURING MOMENTA DETA
65、ILED ANALYSIS OF IMPROVEMENTSAND CHALLENGESIN THE COUNTRYS BUSINESS ENVIRONMENT AS IT STRIVES TO ATTRACT MANUFACTURING INVESTMENT.The Economist Intelligence Unit Limited 20239 Foreign trade and exchange controls:bilateral progress,multilateral hesitancyIndias greater willingness to sign bilateral tr
66、ade agreements has driven improvements in this aspect of its business environment.Pacts with Australia and the UAE were concluded in 2022,and we expect ongoing negotiations with partners such as the EU,the Gulf Co-operation Council,Israel and the UK to be concluded,at least in early harvest form,by
67、2025 at the latest.This is the major factor pushing up Indias regional ranking in this category of the BER from 15th in 2018-22 to 12th in 2023-27.Bilateral deals will increase access to the Indian market for foreign exporters by lowering tariff and non-tariff barriers to trade.Initiatives to boost
68、supply-chain resilience also promise some benefits for India.Along with Japan and Australia,India launched the Supply Chain Resilience Initiative(SCRI)in April 2021,to diversify supply chains by developing well-planned industrial clusters.In July 2022 18 countries and markets,including India,the US
69、and the EU,unveiled a four-point roadmap for building resilient long-term supply chains.Indias reluctance to sign multilateral trade deals will remain a major competitive disadvantage.Protectionist concerns over the impact of larger trade deals on employment and the competitiveness of locally produc
70、ed goods will persist.However,with many South-east Asian economies having joined mega-regional trade deals such as the Regional Comprehensive Economic Partnership and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership,Indias position means that it will attract fewer export-ori
71、ented manufacturing investors than it could.Policy towards foreign investors:more active outreachPolicy towards foreign investment has become friendlier.Policy initiatives and reforms seem designed to improve Indias image to investors as well as boost competitiveness.The government India has fewer m
72、ultilateral trade alliances than the countries of South-east Asia SCRIRCEPSouth-EastBIMSTECCPTPP IndiaAustraliaCambodiaIndonesiaPhilippinesLaos MalaysiaSingaporeVietnamBruneiSouth KoreaChinaThailandMyanmarBhutan BangladeshNepal Sri Lanka JapanNew ZealandCanadaChileMexicoPeru Source:EIU.Bay of Bengal
73、 Initiative for Multi-Sectoral Technical and Economic Co-operationRegional Comprehensive Economic PartnershipSupply Chain Resilience InitiativeComprehensive and Progressive Agreement for Trans-Pacific PartnershipAssociation of South-East Asian NationsBIMSTEC:RCEP:SCRI:CPTPP:ASEAN:INDIAS MANUFACTURIN
74、G MOMENTA DETAILED ANALYSIS OF IMPROVEMENTSAND CHALLENGESIN THE COUNTRYS BUSINESS ENVIRONMENT AS IT STRIVES TO ATTRACT MANUFACTURING INVESTMENT.The Economist Intelligence Unit Limited 202310has moved to settle disputes over retrospective taxation with foreign companies,which had acted to unnerve inv
75、estors.Foreign direct investment(FDI)inflows to India increased 20-fold between 2000 and 2021.Much of this FDI has been targeted towards the financial services and software sectors,as services have been the mainstay of the Indian economy over the past few decades,but we expect a rising allocation fo
76、r manufacturing in the future.Technological readiness:an emerging digital powerIndia scores well for technological readiness and is ranked in the top 10 regionally in the BER during 2023-27.This is because of a more conducive environment for e-commerce and an enhancement of information technology-re
77、ady government services.The country boasts a relatively advanced research-and-development infrastructure,owing in part to the education systems historical bias towards higher education institutions.This has facilitated the development of relatively research-intensive sectors such as pharmaceuticals
78、and technology.Digital technologies are transforming traditional businesses.Emerging technologies in the Indian economy include blockchain,which has the potential to disrupt industries such as banking,healthcare,logistics and real estate.The internet of things,which refers to the interconnectedness
79、of physical devices and objects that are equipped with sensors and software,is enabling new applications in areas such as smart cities,while artificial intelligence is being used in a number of sectors,such as healthcare,finance,manufacturing,and agriculture.A rapid expansion of e-commerce will wide
80、n the market for manufacturing firms,given the potential of the countrys large and rapidly growing consumer class.E-commerce has become the focal point of Indias digital revolution,owing to factors such as a growing middle class,the availability of relatively cheap mobile connections and skilled lab
81、our to develop indigenous technology platforms.Structural changes in spending behaviour prompted by the covid-19 pandemic are likely to hasten the uptake of e-commerce,particularly in retail.The development of online commerce will also be facilitated by the governments BharatNet programme.The govern
82、ments restrictions on e-commerce businesses will remain in place over the next few years to protect small bricks-and-mortar businesses,and policies in this space could be unpredictable,as this is a novel domain.INDIAS MANUFACTURING MOMENTA DETAILED ANALYSIS OF IMPROVEMENTSAND CHALLENGESIN THE COUNTR
83、YS BUSINESS ENVIRONMENT AS IT STRIVES TO ATTRACT MANUFACTURING INVESTMENT.The Economist Intelligence Unit Limited 202311Source:International Financial Statistics.*Includes financial,banking,insurance,non financial/business,outsourcing,R&D,courier,technology and othersSource:Department for Promotion
84、of Industry and Internal Trade.Foreign direct investment to India hassteadily risenServices,software and construction lead in attractingFDI to India Services*Computer hardware&softwareConstruction&infrastructureTelecommunicationsTradingAutomotivesChemicalsDrugs&pharmaceuticalsMetallurgical industrie
85、sHotels&tourismPowerRenewable energyOthers20000520304050607033225(%of total FDI inflows in 2000-2022)(US$bn)INDIAS MANUFACTURING MOMENTA DETAILED ANALYSIS OF IMPROVEMENTSAND CHALLENGESIN THE COUNTRYS BUSINESS ENVIRONMENT AS IT STRIVES TO ATTRACT MANUFACTURING INVESTMENT.The Eco
86、nomist Intelligence Unit Limited 202312In a regional tug-of-war for manufacturing investmentIndias increasing viability as a destination for manufacturing investment is clear.Proactive government incentives for manufacturing,steadily improving infrastructure,low-cost labour availability and bilatera
87、l trade deals are driving gradual improvements in the business environment.Broader geopolitical factors and the search for alternatives to China will also encourage investors to look at India.The country has a golden opportunity to galvanise its manufacturing sector,which only accounts for less than
88、 20%of its GDP,and to drive economic growth and exports.India will,however,face intense competition in attracting investment.South-east Asian economies in particular are pursuing similar strategies to appeal to firms and,in many cases,are more advanced in their offerings.Malaysia and Thailand alread
89、y have strong electronics and automotive manufacturing clusters respectively,and Indonesia is implementing significant business environment reforms to woo international investors.Vietnam has mopped up a lot of the low value-added manufacturing to have already left China.The efficiency of Chinas supp
90、ly chain will also retain considerable appeal,notwithstanding geopolitical developments.Red tape and protectionist political sentiment remain major challenges in India.An important factor weighing in Indias favour will be the size and potential of its domestic market.Firms will make investment decis
91、ions based on individual considerations,weighing the sort of factors assessed in our BER.However,proximity to a large market seems likely to make international firms more minded to overlook aspects of Indias business environment that remain challenging.That is why we are relatively confident in stat
92、ing that Indias manufacturing moment has arrived.South-east Asia poses strong competition to India(EIU business environment ranking score for 2023-27;10=best)Source:EIU.IndiaIndonesiaPhilippinesVietnamThailandOverall scoreInfrastructureLabour marketMarket opportunityTechnological readinessForeign di
93、rect investment policyMacroeconomic environmentTaxesForeign trade and exchange controls0246810 The Economist Intelligence Unit Limited 202313EIU Viewpoint:Country Analysis Preparing you for whats aheadUnderstand a countrys political,policy and economic outlook with our award-winning forecasts,analys
94、is and data.Our experts assess the global dynamics that impact organisations,so you can plan and operate effectively.Whats included?Global and regional outlook spanning politics,economics and market-moving topics Daily insights on the developments that impact the future outlook Executive summaries o
95、f country forecasts over the medium-term outlook Medium-term country forecasts on 200 countries political and economic landscape Long-term country forecasts on the structural trends shaping 80 major economies Industry analysis on the outlook for 26 sectors in 70 markets Commodity forecasts on supply
96、,demand and prices of 25 critical goods Macroeconomic data on forecasts,as well as historic trends Industry data on demand and supply of key goods,now and in the future Proprietary ratings on the business environment Thematic analysis of the cross-cutting issues that our experts expect to shape the
97、global outlookHow Country Analysis helps you to stay ahead Expansive coverage-global,regional and country-level analysis for nearly 200 markets,delivered by our analysts.Every month,20,000 data series are updated,enabling you to adapt and plan ahead.Challenging consensus-stay ahead of your competito
98、rs.For more than 70 years our forecasting teams have made bold calls,accurately.A nuanced approach-intuitively designed to address politics,policy and the economy,our methodology includes detailed insights in addition to data.Robust,accurate information-apply insights with confidence.Our forecasts a
99、nd analysis are non-biased and rigorously researched.To arrange a demonstration of EIUs Country Analysis service or to discuss the content and features included,please visit 2023 The Economist Intelligence Unit Limited.All rights reserved.Neither this publication nor any part of it may be reproduced
100、,stored in a retrieval system,or transmitted in any form or by any means,electronic,mechanical,photocopying,recording or otherwise,without the prior permission of The Economist Intelligence Unit Limited.While every effort has been taken to verify the accuracy of this information,The Economist Intelligence Unit Ltd.cannot accept any responsibility or liability for reliance by any person on this report or any of the information,opinions or conclusions set out in this report.