India'S Manufacturing Industry Will Be In Line With China In The Future.

In June, a survey jointly published by DDT and India Institute of competitiveness showed that the gap between the competitiveness of manufacturing industry in China and China is shrinking rapidly. The competitiveness of India's manufacturing industry in the next 5 years will probably be in line with China's competitiveness.

India ranked second in the list of the global manufacturing competitiveness index jointly compiled by DDT and the American competitiveness Institute, second only to China.

In this ranking of 26 developed and emerging economies in the world, China scored 10 points and India scored 8.15.

The gap between the two countries is very limited.

The report predicts that in the next 5 years, the competitiveness index of India's manufacturing industry will be raised to 9.01, while China will decline slightly because of the rise in wage level.

Kumar Kandaswami, head of DDT India office, said: "India's economy will grow strongly, and the competitiveness of manufacturing industry will enhance the foundation for India's rapid economic growth."

India's finance minister Mukherjee said last week that India's economy is expected to achieve an average annual growth rate of two digits in the next five years.

In the report of DDT and the American competitiveness Institute, low wages and youth are important reasons for the rapid upgrading of India's manufacturing competitiveness.

Compared with China, India has lower labor costs and India's population structure is younger than that of China. India has not yet had an aging problem.

The top 10 countries in the list are South Korea, the United States, Brazil, Japan, Mexico, Germany, Singapore and Poland.

The report said that the development of Thailand's manufacturing industry is also worthy of attention. The report predicts that the competitiveness of Thailand's manufacturing industry will enter the top 10 in the next 5 years.

The report shows that most of the respondents rated innovative talent as the most important factor to enhance competitiveness.

Kui Lijie, chief executive of DDT global, said that a country's knowledge capital, innovation ability and vigorous economy are important factors to promote the steady development of the manufacturing industry.

In today's environment, as manufacturers around the world have integrated technology platforms and interfaces into their products, the competitiveness of manufacturing industry is being promoted by a strong talent base.

The report shows that in 2015, the competitiveness of the United States will drop from fourth to fifth, the only country ranking high and ranking expected to fall.

At the same time, China and India will rank first and second respectively.

The report shows that most of the respondents rated innovative talent as the most important factor to enhance competitiveness.

Kui Lijie, chief executive of DDT global, said that a country's knowledge capital, innovation ability and vigorous economy are important factors to promote the steady development of the manufacturing industry.

In today's environment, as manufacturers around the world have integrated technology platforms and interfaces into their products, the competitiveness of manufacturing industry is being promoted by a strong talent base.

Craig, a research co-author, DDT vice chairman and consumer and industrial product leader, said the manufacturing heartland will continue to shift to emerging markets, especially in Asia.