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In the last few years, the Dragon’s manufacturing pace has slowed down. While India has registered a tremendous jump on the manufacturing front during the same period. This has shocked China. Big tech companies are constantly distancing themselves from China.
China is facing a slowdown on the economic front. The Dragon’s manufacturing pace has slowed down in the last few years. While India has registered a tremendous jump on the manufacturing front during the same period. China has been shocked by this. Big tech companies are constantly distancing themselves from China. Apple is the most accurate example of this. This is the reason why China is trying to keep India away from the latest technology.
China’s fear of India is such that China’s Commerce Ministry had to hold a meeting in July this year, in which China advised its local electric vehicle manufacturers not to invest in India. Actually, China fears that if Chinese companies invest in India, they will have to manufacture electric vehicles and their parts locally, which will lead to transfer of technology. China has told its companies not to invest in the EV technology sector for security reasons despite the demand in India.
The dragon is scared of technology transfer
China has suffered a major setback in the smartphone sector. Due to which it has become more cautious than before. China initially believed that India cannot defeat China in terms of technology. But its assessment proved wrong. Today India is a big manufacturing hub of smartphones. Not only smartphones are being made in India, but the production of smartphone parts has also started. China is scared after PM Modi set a target of manufacturing semiconductors domestically. India is currently exporting smartphones. Manufacturing of premium smartphones like Apple and Google has started in India.
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