China Plus One, the much-touted strategy that cast India as the world’s alternative factory floor, is dead. It was struck down by President Donald Trump’s sudden 50 percent tariffs on Indian exports, a move that landed like economic war.
Born from the global need to hedge against China, it won support from financiers and executives who poured money into Indian plants.
Its demise comes less than a week after tariffs took effect, leaving investments in tatters and forcing Prime Minister Narendra Modi to seek closer ties with Xi Jinping.
Business leaders now face dislocated supply chains and shrinking markets, while workers in cities like Moradabad fear for their livelihoods.
China Plus One is survived by skepticism, uncertainty, and political rivalry.