Indian products can be more competitive in the shadow of the US-China trade war
Competition Commissionof India( CCI) ran an analysis which revealed which industries India should focus on for export.
- The CCI also recommended that India focus on its competitive advantages in
tradewhen dictating its strategic dialogue with the US.
- On the other hand, foreign direct investments will improve only once the government can instil confidence in American investors about India’s business climate.
AdvertisementIndia’s fair play watch-dog, the Competition Commission of India (CCI) thinks there’s an opportunity for India to capitalise in the midst of the US-China
This essentially makes China’s products more expensive in the US, where the competitive price of India’s products can bring them in as substitutes.
India’s leading exports to the US include pumps, passenger vehicles of 1500-3000 cc, parts of taps, parts of military aircrafts, valve bodies and parts of electrodiagnostic apparatus. Cumulatively, they accounted for $50 million of export trade in 2017.
The industry chamber conducted an analysis which concluded that if India focuses on machinery, electrical equipments, vehicles and transport parts - exports can be increased with concerted efforts. Other Asian countries like Vietnam, Indonesia, Thailand and Malaysia have already increased their exports to the US in recent years.
The CCI also proposed that India should keep its competitive advantage in the sectors of textiles, footwear, mobile phones, toys and games in mind when dictating the strategic dialogue with the US. The chamber justified that such an endeavour would encourage the concerned growing industries in India.
Even foreign direct investments have the potential to increase, but only if the government can instil confidence into foreign investments. It was only recently that India’s draft on the new e-commerce policy rolled out and ruffled a few feathers. Amazon Inc and
And, it’s not only about the US. The CCI also recommended that India can expand its exports into China as well to capitalise on the hike in duties by both countries on imports exchanged between the two.
Popular on BI
- From usernames to secret codes for locked chats, here are the upcoming WhatsApp features
- Coal sector PSUs poised to cross ₹21,030 crore Capex target for 2023-24
- Stock markets snap six-day rally; Sensex slumps over 400 points
- From Lathmar Holi to Jallikattu: India's most unusual festivals
- Orient Technologies files draft papers with Sebi to mop-up funds via IPO