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"Chinese automakers have the capacity to challenge the dominance of market leaders on the back of economies of scale and they already have an edge with the electric vehicle technology that fits well into the Indian government's vision to become a key global base for electrification," said the report quoting Amit Kaushik, managing director at the consultancy firm Urban Science.

"Companies were required to go to certain offices and fill different documents to complete the licensing procedures, which is a time-consuming and labor-intensive task for investors from other cities," said Chen Pengyun, chairman of a Tianjin-based vehicle trading company.

"China's central to global supply chain, central to global trade, playing a major role and is the largest producer in the world," said Roach, adding "it is encouraging to see there are signs of revival in production" after the nation experienced about two months of tight control over its economy in an effort to contain the COVID-19 outbreak.

"Cities are vying for talent because people don't frequently change cities and jobs. Slow movers will likely miss a great future if they don't make the most of the current opportunities," says Lian Tao, co-founder of Xiaozhu, a Chinese home-sharing platform.

"Congress has just reached an agreement. We will pass another rescue package ASAP," the top Republican in the upper chamber said in a tweet. "More help is on the way."