CURRENT AFFAIRS

Detailed explanation-1: -India has been ranked as the nation with the cheapest manufacturing cost ahead of China and Vietnam, according to a report. According to the US News and World Report, out of 85 nations, India has bagged the 31st position in the overall Best Countries ranking.

Detailed explanation-2: -India ranked 2nd in the 2021 Index and has overtaken the United States as the global manufacturing destination. In 2020, India had ranked 3rd and the US ranked 2nd. China retained its first position in the Global Manufacturing Risk Index, 2021.

Detailed explanation-3: -As per the report, under the open for business sub-category, India has scored 100 per cent when it comes to cheap manufacturing costs. But in ‘favourable tax environment’, it has scored 16.2 out of 100; 18.1 in the ‘not corrupt’ category and 3.5 in ‘transparent government policies’.

Detailed explanation-4: -India among lowest-cost countries for manufacturing, leaves behind China.

Detailed explanation-5: -India. #1 in Cheap manufacturing costs. China. #2 in Cheap manufacturing costs. Vietnam. #3 in Cheap manufacturing costs. Thailand. #4 in Cheap manufacturing costs. Philippines. #5 in Cheap manufacturing costs. Bangladesh. #6 in Cheap manufacturing costs. Indonesia. #7 in Cheap manufacturing costs. Cambodia. More items