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The Indian market is huge, attracting a lot of foreign companies to invest in the country, and it is true that it can get support from the Indian side at the beginning. But the more time passed, the situation was not right, and India began to investigate foreign companies and impose fines on various grounds.
Moreover, India has also rejected foreign investment. The Indian market has been abandoned, Chinese companies have shifted their market direction, and 8.3 billion US dollars of investment has been approved, and Vietnam has become another important investment destination after India.
India, like China, is a country with a large population, and with India's population growing dramatically, it is only a matter of time before it surpasses China's population in numbers. Population growth means a large consumer market. This provides huge potential and opportunities for businesses, especially in the fields of consumer goods, retail, e-commerce, financial services, etc.
India wants to surpass Japan, Germany to become the world's third largest economy, the premise of achieving this goal is to vigorously introduce foreign enterprises, develop the manufacturing economy, and give full play to the demographic dividend. It stands to reason that India should maintain a good attitude towards foreign companies and provide a stable business environment, but everyone can see what the Indian market is doing.
Xiaomi has frozen assets worth 4.8 billion yuan in India, and vivo and oppo have been investigated by tax in India. BYD originally wanted to invest $1 billion in India to build electric vehicles, but India refused. Similar cases have occurred with international giants such as Nokia, Samsung, Microsoft, Coca-Cola, etc.
Either being investigated or being fined, but being targeted by India is not a good thing. Such a market environment has chilled some foreign companies, the original Apple foundry Wistron has completely withdrawn from the Indian market, and the remaining iPhone production line has been acquired by the Indian Tata Group.
It has been India's long-standing practice to protect local companies and engage with foreign companies, and companies may be able to make a lot of money in India, but whether they can take the money away is another matter.
There are no people here, there is a place to keep people. The global market is so big, there are so many places to invest, and among Southeast Asian countries, Vietnam has become a center of investment.
In the first 11 months of this year, Vietnam approved $28.8 billion in overseas investment plans, of which $8.3 billion was from Chinese companies, according to data. For example, BYD built a factory in Phu Tho Province, Vietnam, to make auto parts, and Luxshare Precision built a factory in Bac Giang Province, Vietnam, to manufacture AirPods.
The American chip giant Nvidia also received news that it would establish a semiconductor center in Vietnam. Nvidia founder Jensen Huang said that Vietnam is an important market, so he hopes to establish a semiconductor base in Vietnam to develop the country's semiconductor industry.
Vietnam has formulated a series of policies and measures to attract foreign investment, including reducing taxes, providing land and labor, etc., attracting many foreign companies to invest in Vietnam.
Although Vietnam's population and land area are not as large as those of China and India, such an investment environment and good business policies will form a virtuous circle. Enterprises make money here and then invest more money, which can achieve a win-win situation for both Vietnam itself and foreign companies.
India doesn't understand such a simple truth, and if you have to play a good hand, when everyone doesn't play in India, it's too late to regret it.
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