Why Japanese Manufacturers Prefer India for Business Development

As per the survey conducted by the Japan Bank for International Cooperation (JBIC), India has grown to be a suitable option for Japanese firms to deal with business development. The data indicates that around 49% of companies in industries such as chemicals, automobiles, and electronics prefer India for several operations. As per Nikkei Asia, there has been substantial growth in the local market, leading to India's robust performance and it’s becoming the key driver. Also, the rapid growth in the nation's population and continuing infrastructure upgrades have led to its appeal among Japanese manufacturers. Other than India, Vietnam secures the second position with 30.1%; they have a skilled workforce for cheap labor, which makes things advantageous.