World Bank president, Ajay Banga, has stated that India has a limited timeframe of three to five years to take advantage of the China+1 opportunity. This comes as companies are looking for alternative manufacturing sites to diversify their supply chains. In addition, US energy secretary Jennifer Granholm revealed that First Solar plans to invest billions of dollars in solar panel production in India without sourcing materials from China. Tesla is also said to be in talks regarding investment in India.
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