Indian competes on skilled manpower

More and more Chinese companies are interested in investing in India, as their wage cost has increased, a Tamil Nadu state official said here on 21 Sept 2018.

“China and India are the two of the fastest growing markets in the world and offer excellent investment potential. But China’s wage cost is going up,” said M. Velmurugan, executive vice chairman of the Tamilnadu Industrial Guidance & Export Promotion Bureau.

Comparatively, India has abundance of skilled labour and wage cost is lower, added Velmurugan, who spoke at a seminar promoting Global Investors Meet 2019 (GIM 2019), which is to be held 23-24 January in Tamil Nadu.

There is a growing interest among the Chinese companies to invest in India especially under the Make in India initiatives, said Velmurugan, who has earlier this week visited China and learnt that Chinese wages are three times higher than those paid in India.

“India competes with China very closely but the potential for cooperation between two countries is very high,” he pointed out.

There are about 12 to 15 Chinese companies operating in Tamil Nadu but the number is expected to increase, given their strong interests seen during Tamil Nadu delegation visit promoting GIM 2019 in China.

Foreign investors are also benchmarking their decision to invest in India against China but there appear to be a clear advantage India, Velmurugan added.

The Singapore seminar for GIM 2019 was organized by the Government of Tamil Nadu, the Indian High Commission in Singapore, Enterprise Singapore, Singapore Business Federation (SBF) and Confederation of Indian Industry. It was supported by Ascendas-Singbridge, a leading investor in India’s industrial parks. fiinews.com