Conway A. Jeffress
Sourcing automotive components globally
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ASIA: "Manufacturing in India: Opportunities, Challenges and Myths" report. 47-page report by KPMG International.
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backASIAtalk June, 2009
India beats China as low-cost manufacturer
India, for long considered good for only services, has beaten the 'world's factory' China to become the second cheapest manufacturing destination after Mexico.
China's cost advantage has eroded over time largely because of a wide range of cost increases, while India's currency has turned weak against the US dollar which in turn has offset increase in internal cost and freight rates.
Meanwhile, Mexico saw the biggest improvement driven by a favourable exchange rate, relatively low transportation costs and free trade status, said global business advisory firm AlixPartners in its report '2009 Manufacturing-Outsourcing Cost Index'.
“Outsourcing is a whole new ball game today. Gone are the days when companies could see cost savings of 30 per cent or more by making 'no-brainer' manufacturing-footprint and outsourcing decisions, to China in particular,'' Stephen Maurer, managing direc tor with AlixPartners and a leader of the firm's Lean Manufacturing practice, said.
The cost ranking of benchmark countries has shifted significantly from 2005 to 2008, with Mexico topping the list, overtaking India (second) and China (third), followed by the United States and Brazil. Brazil is still not as attractive as other low-cost countries (Mexico, China and India).
Source: The Hindu Business Line - GAI
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