56 firms left China in 17 months, only 3 came to India: Nomura

A study by Japanese investment bank Nomura found that 56 companies relocated production from China between April 2018 and August 2019, out of which only three came to India. Two companies went to Indonesia, eight to Thailand, 11 to Taiwan and 26 to Vietnam. India recently reduced the effective corporate tax rate for new manufacturing companies to 17%.