Increase in US-China trade war It is expected that this will help India increase its exports and attract investment American companiesthink tank GTRI Said on Friday.
It said that the two bills introduced by the US Senate – the Neither Standing Nor Normal Trade Relations Act (PNTR Act) and the Excluding Non-Market Tariff Evasion (ANTE) Act – create growth potential in local industries as companies Want to take the production away. China.
“As US companies reduce their dependence on China, India is expanding manufacturing sectorGTRI founder Ajay Srivastava said it could attract more investment, especially in electronics, textiles and other industries.
The PNTR Act seeks to phase out China’s favorable trade status, while the ANTE Act targets non-market economies such as China and Russia with tougher measures.
He said the ANT Act, in particular, gives India a chance to grow as US companies look to shift production away from non-market economies like China.
In this context, he said, India should reconsider its proposals to invite Chinese companies and investments with the aim of promoting exports as high tariffs on Chinese products provide an opportunity for India to strengthen its manufacturing sector. .
GTRI suggested to the government that India should work actively to attract investments from multinational companies looking for alternatives to China.
Filling the gap left by the decline in Chinese imports into the US will require a boost in domestic production capacities, particularly in electronics, machinery, textiles and solar panel manufacturing.
