Source: US News and World Report
India ranks first when it comes to cheap manufacturing costs. The country's self-reliant India campaign helped in boosting its production capacity by attracting foreign players.
China is second on the list and is known as the 'world's factory' because of its lack of regulatory compliance, as well as low taxes and duties.
Due to Vietnam's low labpur costs, it ranked third on the list and its dominant manufacturing industries are shoes and apparael.
Thailand is a manufacturing hub for automotive parts and vehicles due to its low labour costs.
Philippines ranked fifth on the list. It manufactures steel, chmeicals, paper, textile, machinery and refined petroleum products.
Bangladesh enjoys a duty-free access market to the European Union. Most manufacturers in the country are in the garments and textile industry.
Indonesia ranked 7th on the list and its market flourished with automotive, electronic and mining sectors.