Attract companies wanting to leave China: Modi to CMs

States have to take steps to attract investments, Prime Minister Narendra Modi is reported to have told the Chief Ministers during Monday’s video conference on the lockdown in the country.  This suggestion to the CMs comes in the wake of reports that several companies are thinking of moving away from China and investing in other countries, especially the likes of India and Vietnam.

A Times Of India report claims that Modi wants the States to draw up a “comprehensive plan” for themselves to attract investments.

Recently, there was a report in Business Today about 1,000 foreign firms allegedly planning to shift manufacturing to India from China.  About 300 of them are actively pursuing production plans in mobiles, electronics, medical devices, and textiles.  

UP CM Yogi Adityanath is reportedly on the task of attracting the companies that want to quit China.  “Just as Chandrababu Naidu and YS Rajasekhar Reddy worked towards changing the face of Andhra Pradesh, the UP CM too can ensure that his State’s economic fate changes within 3-4 years,” a social media user commented.