New Delhi:
The trade war between the US and China can be beneficial for Indian exporters, as it is expected to increase Indian exports in the US market. Sources gave this information. Sources said that during the first term of US President Donald Trump, when the US imposed a high fee on Chinese goods, India was the fourth largest profit country.
A source said, “India is likely to benefit from this trade war. India is expected to increase a significant increase in exports. ”Exporters have also said that India will get a lot of opportunities for exports to the US by the US imposition of customs duty on imports from China.
The charge of the fee will affect the exports to the US from China as this will increase the prices of their goods in the US market, which will make them less competitive.
Ajay Sahai, Director General of the federation of Indian exporting organizations (Fio), said, “This step can create opportunities for Indian exports, as American buyers will look for alternative suppliers to avoid high costs.”
According to the Research Institute Global Trade Research Initiative (GTRI), America’s 100 largest export products account for 75 percent of the total imports from the US.
GTRI founder Ajay Srivastava said that India’s simple average fee is 17 percent, while the actual duty on major American imports is quite low.
Srivastava said, ‘Petroleum crude oil (US $ 5.03 billion US $) is charged a minimum of Rs 1 per tonne, while chopped and polished diamonds (US $ 3.09 billion) levy zero percent tax, as most are imported. ‘
(This news has not been edited by the Lokjanta team. It has been published directly from the syndicate feed.)