Southeast Asia beats India in China Plus One race, data show
Higher capital efficiency in Vietnam and Malaysia outmatches India's cheaper wages as Indian exports fell to 22.3% of output in 2025.
MOBy Mina Okoro, Supply chain editor··Updated September 20, 2026·3 min read
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Analyst Yash Kumar Singhal showed Sept. 20, 2026, that Southeast Asian economies outpaced India in capturing foreign manufacturing investment under corporate China Plus One diversification.
Foreign direct investment into India fell between 2020 and 2025 in absolute value and as a share of gross domestic product. In contrast, inbound capital climbed steadily in Vietnam and Thailand over the same period.
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Supply chain editor — Mina Okoro builds the impact maps that connect East Asian developments to buyers in North America and Europe, and edits the Asia Compare desk.
