News ID: 259731
Published: 0448 GMT October 05, 2019

India can win big from $350-550b exports moving out of China: Credit Suisse

India can win big from $350-550b exports moving out of China: Credit Suisse
THE HINDU BUSINESS LINE

India could potentially be one of the big winners from the US-China trade war, according to a Credit Suisse survey of 100 companies with global sales of $1 trillion that projects $350-550 billion of exports will shift out of China and that this is "inevitable even if slow".

This survey insights land at the same time when US Commerce Secretary Wilbur Ross is saying in New Delhi that India has a "wonderful opportunity right now, to take advantage of trade dissension elsewhere", The Economic Times wrote.

$1 billion translates to approximately Rs 7,000 crore.

"We've actually prepared a chart about what are the areas where China is the big exporter to us? How does that compare with what India is exporting to us? And what are possible solutions to how do we change that mixture?" Ross said at the India Today 'India Economic Summit' event in New Delhi.

The Credit Suisse report, reviewed by IANS, has said that firms in China plan to move production to Vietnam, India, Taiwan and Mexico.

Ross' comments and the Credit Suisse report both come as China's top trade negotiator prepares to lead an upcoming 13th round of talks aimed at resolving the ongoing trade war with the US.

 

   
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