The ongoing trade war between the US and China will help India tap export opportunities in both the countries in areas such as garments, agriculture, automobile and machinery, according to trade experts.
Professor at Indian Institute of Foreign Trade (IIFT) Rakesh Mohan Joshi said the US has broadly targeted intermediate components from China, particularly machinery and electronics, whereas China is targeting American automotive and agricultural products including Soybean.
“These areas offer huge opportunities for India. Strong opportunity is unfolding for India in apparel and readymade garments as after China, India is the only country in the world to match the scale of operations and integrate its supply chain for global customers,” Joshi said.
He added that India needs to make use of this opportunity to significantly enhance its exports especially in information and communications technology (ICT) and the automotive sector.
“To effectively harness the emerging opportunities, India needs a carefully crafted strategy and its meticulous implementation at the grass-roots level,” he said.
Sharing similar views, the Federation of Indian Export Organisations (FIEO) said the trade war between the US and China is benefitting India.