How India can reap the benefits of US-China Trade War?
The report from the Ministry of Commerce and Industries provides insights about the opportunities for India from the US-China trade war:
- The ongoing US-China trade provides a big window of opportunity to India for enhancing its exports for both of these nations.
- The ongoing US-China trade offers an opportunity to India for boosting exports of as many 350 products such as chemicals and granite to both of these countries.
- India will have an outright advantage to displace the US exports to China in as much 151 domestic products including diesel, X-ray tubes and certain chemicals.
- In the same way, 203 Indian goods like rubber and graphite electrodes have the advantage to displace Chinese exports to the US.
- The Indian products which have a window of opportunity to tap the Chinese market include copper ores, rubber, paper/paperboard, equipment for transmission voice/data in a wired network, tunes and pipes.
- The Indian goods which can grab exports opportunities in the US market include industrial valves, vulcanised rubber, carbon or graphite electrodes and natural honey.
- Encashing on the opportunity would help India in narrowing the widening trade deficit with China, which stood at USD 50.12 billion during April-February 2018-19.
The Ministry of Commerce and Industries has shared information about specific products in which India can potentially expand exports to China immediately based on its strengths and available market access and also those in which concerted efforts need to be made to acquire market access with the concerned ministries.
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