Last year, India jumped 30 places ahead in World Bank’s Ease of Doing Business rankings, powered by numerous reforms introduced by the government. Even though the government is focused on making India an attractive destination for foreign companies, the situation on the ground may not be as ‘easy’ as it seems.
Caught in red tape, an American manufacturing giant has threatened to leave India for Malaysia. The $26-billion Flex, one of the world’s top contract manufacturers for electronics, has threatened to move its production from Sriperumbudur in Tamil Nadu to Malaysia if promised concessions are not granted, TOI reported.
Flex claims there has been no movement on its request, made in August, to allow its Chennai factory to source duty-free products from its second unit within a special economic zone (SEZ) at the same location, says the report.
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