Facing boycott by Chinese consumers, imitation of Korean technologies by Chinese firms, saturating markets, mounting operational cost, tough working conditions, and other adverse factors forced thousands of Korean companies to stage exodus from China in last four-five years.
However, the majority of these relocating companies headed towards Vietnam and other East Asian countries and skipped India that boasts of improving its ease of doing business ranking at the global level. The kind courtesy: Bureaucratic hurdles, cumbersome regulations, and red-tapism.
Vietnam today hosts 7000 Korean companies while India reels under the meager number of 700.
In the last 4-5 years, India miserably failed to attract the China-based Korean companies looking for alternate turf somewhere in Southeast Asia because of its own shortcomings. Tiny countries like Cambodia and Laos comparatively did better in hosting Korean companies than India. Read more...
Comments
Post a Comment