India can boost exports of 300 products to US, China amid trade war: Report

  1. According to a study by the Commerce Ministry,the ongoing trade war between the US & China offers an opportunity to India for boosting exports of as many as 350 products.
  2. Both the US and China are imposing heavy import duties on each other’s products which has triggered a trade war.
  3. Trade war is a situation where countries restrict each other’s trade by imposing tariffs or quotas on imports.
  4. According to the study,as much 151 domestic products including diesel, X-ray tubes and certain chemicals have an outright advantage to displace the US exports to China.
  5. Similarly,203 Indian goods like rubber and graphite electrodes have the advantage to displace Chinese exports to the US.
  6. The study also says that ongoing trade war may bring about a shift in the global trading patterns due to spillover effects and displacement of the bilaterally traded communities to other countries.
  7. Further,increasing exports would help India narrow the widening trade deficit with China,which stood at USD 50.12 billion during April-February 2018-19.

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