Absolutely, manufacturing requires

1. Cheap Skilled Labour (India has unskilled labour because skilled abour is expensive in India)

2. Mineral Resource (India doesn't even have anthracite deposits for steel production) leave alone oil and other minerals for manufacturing.

3. India does have a good mix of software and other Engineers.

I think the best manufacturing countries for expansion out of china are African countries which do have Unskilled labour and Mineral resources. They can hire the rest from outside.