mo4ch:>India rolls out red carpet for hundreds of American firms that Washington wants out of China – report  | Mo4ch News

As trade tensions escalate between Washington and Beijing, India is boosting efforts to lure more than 1,000 US businesses out of China, reportedly offering to ease tax and labor laws, and allowing easier access to land.Among those companies the Indian government reached out to were medical equipment producers, food processing units, and textiles, leather and auto part makers, Bloomberg reported, citing Indian officials. The talks, which began in April and were set up through overseas missions, reportedly involved Medtronic Plc and drug maker Abbott Laboratories, which has recently developed “rapid” coronavirus tests.Also on rt.com‘Turbocharging’ exodus: US beats trade war drums to remove supply chains out of ChinaTo sell the initiative, Indian officials are said to have told the companies that India can provide cheaper labor compared to the US. While the overall costs are still higher than they would be if production remained in China, they promised some perks to sweeten the deal. Fo…