"India, on the other hand, stands a good chance to emerge as a reliable substitute, given its congenial landscape for manufacturing as well as its vast consumer market."

If that is the case, India would have been a manufacturing power 20 years ago.  The West are itching to shift manufacturing away from China since the 90s.  They have been promoting India since then and what happened? Nothing.  

https://www.indiatoday.in/business/story/how-coronavirus-will-fuel-manufacturing-exodus-from-china-1670330-2020-04-23