The growing tariff war between the US and China has given a chance to give a new dimension to Indian exporters in the US market for Indian exporters. Indian business organizations and industry need to take immediate steps to fill the global supply chain due to the US imposing heavy duty on several products of China on many products.
Praveen Khandelwal, MP from Chandni Chowk and National General Secretary of Confederation of All India Traders (CAT), believes that India, especially in areas where there is already a competitive edge, can become a reliable and democratic option of China’s products in America. It is a once an opportunity for India to re -establish a global manufacturing and export center. The current global conditions will force America to find reliable partners and in such a situation, the Indian trade and industry should take advantage of this strategic opportunity.
Khandelwal said that due to high tariffs, American companies will now want to reduce dependence on Chinese suppliers, in such a situation, India’s low cost and high skill manufacturing system emerges as a better option. Prime Minister Narendra Modi’s global influence, India’s democratic structure, law rule and constantly improved structure can establish India as a reliable business partner for America. In addition, Indian exporters in areas such as pharmaceuticals, textiles, chemicals, FMCG, engineering items, electronics assembly and auto parts have already strong presence that have now become even more relevant due to US duty on imports from China.
Khandelwal also said that trade and industry should formulate a strategy to mold themselves rapidly according to America’s demands. Especially areas such as electronics, toys, machinery, furniture and consumer goods should target, where China’s grip is now weakening. Along with this, efforts like the government’s production linked incentive (PLI) scheme are necessary to expand and upgrade manufacturing capacity. He talked about presenting the brand India as a reliable, durable and innovative productive country in the world market, which is not only at low cost but also in quality and innovation.
However, experts believe that this opportunity is not permanent – countries like Vietnam, Mexico and Bangladesh are also moving fast. India will have to bring policy support, improving infrastructure and private sector participation together to capitalize on this opportunity. Amidst the global business conditions, India has the opportunity to write a new story of its exports, Khandelwal said. We have to take steps in a manned and collectively.
