[ad_1]
India's share of world merchandise exports is 1.7%, compared to 12.8% for China.
India will focus on increasing its exports to the United States and other world markets, with Chinese shipments becoming unattractive in the context of a trade war between the most major world economies. Trade Minister Suresh Prabhu said.
New Delhi focuses on a handful of items, including auto parts, chemicals, electrical equipment, among others, after the United States and China have imposed reciprocal rights on their goods, said Mr. Prabhu in an interview. India's share of world merchandise exports is 1.7%, compared to 12.8% for China.
"Current trade tensions between the United States and China could have a positive impact," Prabhu said in a written response to the questions posed. "The long-term strategy is to build manufacturing capabilities, paying attention not only to the United States, but also to the requirements of other markets."
President Donald Trump should embark on a new round of negotiations. In January, India sought to take advantage of the opportunities offered by the dispute. Southeast Asia, a region that is competitive with exports, is already experiencing a boom in foreign direct investment, as the trade war encourages companies to transfer their production to the region.
Suresh Prabhu believes rising tensions could derail trade.
The administration of Prime Minister Narendra Modi explored ways to narrow the gap between exports and imports, which reached $ 17.1 billion in October. The government has imposed some import restrictions to ease the current account deficit, a major vulnerability of the economy and one of the reasons why the rupee has lost more than 11% against the dollar this year.
Rising tensions could Mr. Prabhu said: "This is not a welcome development for a free and fair trade," said Mr. Prabhu. "19659003]id) {var js, fjs = d.getElementsByTagName (s) [0]; if (d.getElementById (id)) return; js = d.createElement (s); js.id = id; js. #### # 39; facebook-jssdk & # 39;));
[ad_2]
Source link
