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Date: 30/12/2024

Trump’s targeted tariffs could benefit Indian industry

Mexico, Canada and 10-nation Southeast Asian bloc Asean benefited more from the US-China trade war than India, economic think tank GTRI said in a report. It said that India has to strengthen its local supply chains and produce critical intermediates to reduce reliance on China, while improving cost efficiency and ease of doing business to enhance competitiveness of domestic industries and increase exports to the US. With Donald Trump again becoming the US President, the evolving trade landscape offers huge opportunities for Indian industry as he has hinted at new tariffs targeting Mexico, Canada and China, said a report.

source: Exim News Service: New Delhi, Dec. 29