Former Prime Minister to the Commonwealth of Australia and President of the Asia Society Policy Institute Kevin RuddFor businesses seeking diversification into new markets — especially given the geopolitical risks surrounding China — India, southeast Asia and Mexico are top contenders, former Australian Prime Minister Kevin Rudd said Sunday.
"One is Southeast Asia, where we are now, the second is India ... And certainly from the North American perspective, it's Mexico, obviously benefiting from the Nafta, or the Nafta-plus economic arrangements."
"As someone who's dealt with India for the last 20 years, for the first time, I became convinced that they are about to attempt a significant policy shift," Rudd told the conference.
"If they can pull that off, it can turn India into the next China in terms of a large scale consumer market, and also a reliable, global factory," he added.
India, in particular, could potentially provide exporters not just with opportunities to diversify supply chains, but also new end-markets.