The mud can't hold up the wall, and the United States is disappointed! India's manufacturing power dream plan has failed! More than 2,000 multinational companies have left India in groups, and the United States has been unable to contain China through India's development.
As a population of 1.38 billion, India is supposed to be chasing China with high morale, but lately it has been a lot of trouble. According to media reports, India for suspected tax evasion and other reasons to xiaomi, VIVO and other Chinese enterprises to carry out surprise inspections, while freezing the assets of these enterprises, and then Chinese companies including glory, millet and other companies announced their withdrawal from the Indian market, India's tax stick also hit The European and American countries have also been hit, British telecom giant Vodafone, France's Pernod Ricard, the United States IBM is also subject to High Taxes from India.
According to statistics, in the past many years, more than 2,000 multinational companies have withdrawn from India, India has actually been trying to learn from China, become the world's new "manufacturing plant", but it has backfired, this wish has been impossible to achieve, which also made Indian Prime Minister Modi feel disgraced, Modi said that those foreign companies may have lost interest in India. According to the Indian Business Daily, in the seven years from 2014 to 2021, a total of 2783 multinational companies closed their subsidiaries or offices in India, and as of July 27, 2022, there were only 5,068 registered multinational companies in India.
In fact, as the second largest country in the world with a population of 1.38 billion, it should be one of the fastest growing countries in the global economy, but why are so many multinational companies leaving India? A number of Indian media have analyzed this, and it is generally believed that India's business environment makes those multinational companies prohibitive, including high tariff barriers, and some US organizations have analyzed that India's economic index is lower than the global average, and India may be the country with the highest tariffs in the world. India's tax department has issued high fines to companies in various countries such as Xiaomi, Nokia, IBM, Walmart, and Kane Energy, and the lives of companies in various countries in India are not good.
In fact, the United States is also disappointed, the United States has always hoped that India can become the world's new manufacturing plant, the United States and the West believe that India only to achieve more economic growth, in order to tap its economic and military strength, in order to contain China, but in the current situation in India, it is impossible to become a new manufacturing power, India's dream of manufacturing power to be shattered, the fundamental reason is still self-inflicted.
