> India on the other hand has barely scratched the surface, no company wants to migrate manufacturing there
I don't think that's true. India has a large domestic market, high tariffs, and relatively low labor costs. It makes a lot of sense for products for the domestic market to be manufactured (or at least assembled) inside the country, and you see many manufacturers doing that. Some of them have success in manufacturing and go on to build for the export market in India; many have less success and accept the tariffs.
the problem is the power grid in India is terrible, and you still need to bribe people to get things done. i have family in manufacturing, they said the bribing isn't too much hassle but the power grid being so bad isn't worth the investment.
Having seen the rat-king level street wiring, I am not surprised.