Till some time ago, China was called the factory of the world. After that, an epidemic like Covid hit the world and after that a big tragedy started in China. This tragedy was seen more at the economic level. The factory started closing. Due to the government’s Covid policy, the production of many companies in the world started getting affected. After which American and European companies changed their strategy. Under which, along with China, they started capturing such countries, which could be made and considered as another option for China. India’s position has become number one in this. Apple, then Foxconn, now Tesla has also started preparing to come to India.
The most important thing is that the manufacturing cost in India is the lowest in the world. In which India has become number one by defeating China. Besides, Vietnam is also moving forward to compete with China. World of Statistics has tweeted. In which a list of 50 countries has been released. This list has been prepared quoting US News and World Report. If we talk about the top 10 countries, apart from India and China, there are names of countries like Bangladesh, Sri Lanka, Malaysia Cambodia, Indonesia. Let’s look at 10 countries in the world where manufacturing costs are low.
India left China behind
The way companies from all over the world are moving from China to other countries one by one. This clearly shows that the world’s big economies are becoming disillusioned with China. The second biggest thing is that these big companies are facing higher manufacturing costs in China. India has left China behind in this matter. This means that India has the lowest manufacturing cost in the world. For this reason, the world’s biggest company like Apple has made India its second home. Also, slowly but surely, they have started shifting themselves from China to India.
Countries have the cheapest manufacturing costs 2023:
1.
India
2.China
3.Vietnam
4.Thailand
5.Philippines
6.Bangladesh
7.Indonesia
8.cambodia
9.malaysia
10.Sri Lanka
,
12.Ghana
13.Kenya
14.Mexico
18.Uzbekistan
19.Colombia
21.South
— World of Statistics (@stats_feed) November 29, 2023
On the other hand, Vietnam has also started giving a big competition to China. Companies coming out of China are either shifting to India, or migrating to Vietnam. In terms of manufacturing cost, Vietnam is at third place behind China. But the way the situation in China is visible. Besides, due to tensions with America, European countries are also lagging behind. Soon China may lag behind Vietnam.
These countries are also included in the top ten
If we talk about other countries in the top 10, Thailand is at fourth position and Philippines is at 5th position, where manufacturing cost is lowest. The name of India’s neighboring country Bangladesh is also in this list. It is the sixth country in the world where manufacturing cost is highest. Indonesia is the 7th name in this list. Cambodia is seen at number 8 and Malaysia at number 9. Sri Lanka’s name is also in the top 10. Which is quite surprising. This list includes Ghana, Kenya, Mexico, Uzbekistan, Colombia, South Africa, Kazakhstan, Tunisia, Chile, Algeria, Turkey, Uruguay, Panama, Singapore, Brazil, Egypt, South Korea, Iran, Lithuania, The names of Serbia and Belarus are also included.
