India tops ranking for Japan manufacturers as China slips to 3rd

Vietnam rises to 2nd in yearly survey of promising business destinations

India's booming population and growing economy have made it a popular business destination for Japanese manufacturers. (Photo by Ken Kobayashi)

RYOSUKE HANADA and YUJI NITTA, Nikkei staff writers

December 15, 2023 02:50 JST

MUMBAI/HANOI -- India led a survey of Japanese manufacturing companies about promising countries or regions for business development for the second year in a row, as China slipped to third place behind Vietnam.

The Japan Bank for International Cooperation on Thursday announced the results of the survey, which received responses from 534 manufacturers in fields like automobiles, chemicals and electronics.