Revitalising FDI

India will need to increase its appeal

The government of Thailand has announced that four Japanese carmakers intend to invest as much as $4.3 billion in the Southeast Asian nation over the next five years in order to transform it into a hub for manufacturing electric vehicles, including utility vehicles. Thailand, which is the second-largest economy in the Association of Southeast Asian Nations, or Asean, has long had a productive industrial relationship with Japan. Increasingly, however, it has become a battleground for industrial and geopolitical competition between Japan and China — large Chinese car manufacturers, which have begun to dominate the electric-vehicle supply chain, have also claimed