The government has determined that India can gain an advantage in ten to twelve industries, including electronics, pharmaceuticals, chemicals, cars, toys, and air conditioners.
Trump tariffs and the ensuing trade war have made production in China expensive; therefore, India is quickly attempting to find and entice US companies eager to move their manufacturing bases there, according to The Economic Times.
According to sources quoted in the story, the government recently met with business executives to discuss tactics and is attempting to assist Indian companies in their aggressive pursuit of the US market in the face of global concerns.
The report could not be independently verified by Tech on Tips.
US President Donald Trump imposed a number of “reciprocal tariffs” on his nation’s trading partners on April 2. The United States replied when China imposed a 34 percent tax. The United States now imposes 145 percent charges on Chinese commodities, with some products subject to up to 245 percent duties.
India is seeking a bilateral trade agreement (BTA) with the United States in the face of growing global uncertainty. This is anticipated to provide Indian exporters a competitive advantage over their international counterparts. According to the article, industry executives told the government during their discussion that in order to take full advantage of the chances created by the US-China trade war, the government must develop a well-thought-out plan.
The CEOs cautioned that Vietnam would jump in and become the largest benefactor of the changing global supply chains if India doesn’t capitalize on the scenario.
According to the research, the government has selected 10 to 12 industries where India may gain a competitive edge, including electronics, pharmaceuticals, chemicals, cars, toys, air conditioners, and appliances.
Trump recently said that computers, smartphones, and other devices would be temporarily spared from the duties. In addition, he said that the items were “just moving to a different tariff bucket” and hinted that later this week, new levies on imported semiconductors would be announced.
According to the research, one of the main priorities for the Indian sector is shifting electronics supply chains from China.
