US tariff will lead India to lead in large regions against China

New -Delhi, April 3 (IANS). The impact of the US receipt rate will be seen on all countries, but Indian exporters may appear as ‘competitor’ as China faces 65 percent or even more. The additional rate of 27 percent for India places it on the list of targeted countries, creating opportunities outside traditional export areas such as engineering goods, electronics, jewelery and jewelry, textiles and clothing. Agneshwar Sen, leader of EY India’s trade policy, said: “Rates can also be more severe competition in the areas where other regional exporters are more severely affected. To maximize this benefit, India must not only deal with the US to maintain the market access, but to rebuild the supply chain and get new opportunities.” In FY 2023-24, India exported electronics worth $ 10 billion to the US. The ICEA estimates that the figure in different electronic product categories could rise to $ 80 billion in the coming years, which depends on the ongoing policy support and a favorable tariff system, with bilateral trading crossing $ 100 billion. According to experts, US rates may have some effect, but India can benefit because China’s cumulative rates, including previous rates, range from 54 percent to 154 percent, and Vietnam faces 46 percent. ICEA president Pankaj Mohindru said that the real long -term turn for the electronic trade in India with the US is in an immediate and successful completion of a broad bilateral trade agreement (BTA). According to Saurabh Aggarwal, partner and tax leader of car taxes, there is a great opportunity to get a large share in the US market, especially in the US market near India’s electric vehicle sector. He said: “Exporting car and components to the US to the US by 2023 was $ 17.99 billion, while India’s car and component exports to the US remained only $ 2.1 billion in 2024, reflecting the possibility of growth.” Experts said the government should include more car components to speed it up. -Ians skt/gkt