India readies land pool to lure businesses moving out of China

Published On: Tuesday, May 5, 2020 | By: Team KnowMyStock

India is developing a land pool nearly double the size of Luxembourg to lure businesses moving out of China, according to some sources A total area of 461,589 hectares has been identified across the country for the purpose, it is said. That includes 115,131 hectares of existing industrial land in states such as Gujarat, Maharashtra, Tamil Nadu, and Andhra Pradesh, the source said. Luxembourg is spread across 243,000 hectares, according to the World Bank. Land has been one of the biggest impediments for companies looking to invest in India. The Central government is working with state governments to change that as investors seek to reduce reliance on China as a manufacturing base in the aftermath of the coronavirus outbreak and the resultant supply disruption.

Source: various sources

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