India to benefit from US-China trade tussle: EPCH

India is set to gain and be on an upward trajectory in exports amid all the tension brewing between the US and China over trade tariffs. 

The Trump administration had slapped tariffs to the tune of 10% on Chinese products, with expectations of this going up to 25% by year end. China too had responded by levying taxes on 5,207 US products valued at around $60 billion.

Speaking at the press meet of the IHGF-Delhi Fair Autumn 2018, Rakesh Kumar, Executive Director, Export Promotion Council for Handicrafts (EPCH) said that it is inevitable that India will benefit from this ongoing ‘war.’ “The government intention in the US now is no more pro-China. That is the reason why Americans are now not keen to invest in China. At the same time, they also have to find other sources of the market where there is a new product as well as acceptability of the consumers.

This is where India comes in as the other market after China which can give as much content, design and variety,” he said. 

This year, the fair is seeing an increase of 15-20% in buyers, including many larger accounts. Overseas buyers from over 110 countries are expected to be present, including buyers from new countries such as Benin, Fiji, Latvia, Rwanda and Dominican Republic, who will visit for the first time. 

Industry body, the Confederation of Indian Industry (CII),too had highlighted in its recent report on ‘New Export Opportunities for India in Trade with US and China’ stating that India should focus on the US market for items in the areas of machinery, electrical equipment, vehicles and transport parts, chemicals, plastics and rubber products. 

The chamber had identified 818 product lines where the US has increased tariffs for imports from China.