'India's cost advantage in manufacturing over Europe to decline by 2023'

摘要

India's cost competitiveness in manufacturing vis-a-vis Europe may decline from current level of about 44 per cent to 30 per cent by 2023 owing to growing labour costs, according to an Assocham-Ro-land Berger joint study. "Manufacturing in India is currently 15 per cent cheaper than Europe but the cost difference is reducing due to increasing wages and other costs," noted a study titled 'Indian Auto Industry: The way ahead,' conducted by Assocham and Roland Berger Strategy Consultants.