OnePoll survey reveals that 61% of US executives said they would consider sourcing from India if they knew India had the same materials as China
WASHINGTON, Jan. 29, 2024 /PRNewswire/ — India Index (www.indiaindex.com) today announced that an independent third party survey of 500 US C-Suite executives by OnePoll revealed striking findings on US leaders’ willingness to trade with India versus China.
Just a few of the survey’s striking findings included the following:
- US C-Suite executives are three times more likely to choose India over China for their supply chain needs.
- 61% of US executives said they would consider sourcing from India if they knew India had the same materials as China.
- Political risk (53%), IP theft (54%), and quality risk (45%) were top concerns amongst US executives when it came to trading with China.
- 26% of US executives revealed it was ‘very risky’ to trade with China, compared with India at 12%.
“These survey findings foreshadow a significant shift in US global trade patterns in 2024,” says Samir Kapadia, Founder and CEO of India Index. “For years, we knew that the US and India would enter into a long term trade relationship akin to that of China, but that really hasn’t accelerated significantly until now.”
“Today, the survey results reveal true alignment, not just with the positive sentiment coming in from business executives, but also external shareholder pressures due to forced labor concerns, intellectual property theft, and reputational risk abroad,” says Kapadia.
According to the Census Bureau, U.S. imports from China were down 24 percent from one year ago through the first five months of this year. Companies such as HP, Stanley Black & Decker, Apple, and Lego have all started to decouple from China.
“While US trade with China will still continue, we now have the data that validates that many US executives will start to slowly decouple from China in the year ahead and consider other trading partners such as India,” says Kapadia.
About India Index
Based in Washington, DC, India Index is a cloud-based platform that makes the process of sourcing from India easy. India Index’s vision is to connect every company in the world to a viable Indian supplier with confidence and transparency. Organizations globally – from startups to Fortune 500s – use India Index to diversify their supply chain partners, prioritize their company values, and optimize trade relationships to be more profitable. India Index helps buyers and suppliers search, filter, and vet supply chain partners through a seamless and cost-effective process. For more information visit www.indiaindex.com.
The nationwide survey of 500 C-Suite executives ran in early December 2023. To view the full survey details and for interview requests, please contact:
Olga Orda, Hypemachine
[email protected]
SOURCE India Index
