2016
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Detailed explanation-1: -India ranked 2nd in the 2021 Index and has overtaken the United States as the global manufacturing destination.
Detailed explanation-2: -India ranks 31st in US News & World Report’s Best Countries 2022; Globally India Has Cheapest Manufacturing Cost. According to the US News & World Report’s overall Best Countries 2022 ranking, India has bagged the 31st rank among 85 countries. Switzerland has topped the list followed by Germany and Canada.
Detailed explanation-3: -The S&P Global India Manufacturing PMI climbed to 57.8 in December 2022 from 55.7 in the prior month, pointing to the highest reading since October 2020 and marking the 18th straight month of expansion.
Detailed explanation-4: -China has earned the title “the world’s factory” for a reason.
Detailed explanation-5: -India beats America to Rank No: 2 in World’s Most Desired Manufacturing Destination-The Machine Maker.