New Delhi, Mar 19 (TIWN): The 'China Plus One' supply chain diversification strategy triggered by the global Covid-19 pandemic is creating opportunities for Indian players.

Besides, the changing role of China's manufacturing sector in the global export value chain, is leading to the creation of growth opportunities for Indian companies.

"China's strategic change towards manufacturing of high-value goods from low-value goods is evident in both inter-sector such as shift to capital goods from footwear, and intra-sector such as shift to man-made fibres from home textiles or cotton apparels, and in the pharmaceutical sector, to formulations from active pharmaceutical ingredients (APIs)," said India Ratings and Research.

"These opportunities as well as other factors such as increased self-reliance, increased domestic and global demand would be the key drivers for increased capex requirements in some of these sectors."

Till recently, China was a world leader in several sectors such as home textiles and cotton apparel, but with the changing dynamics of the world supply chain, there is a considerable shift in its production strategy.