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India capitalising on US-China trade trade war

Making the most of the fiery trade battle between US & China, India is trying to pitch itself as an attractive destination for prominent foreign firms like Apple, Pegatron Corp, Foxconn and Wistron Corp. The move is attempted at enticing these firms to shift their business from trade war-hit China to India. The war has ensued in higher tariffs on goods worth billions of dollars and disrupted global supply chains, compelling companies to look at other investment avenues to evade higher tariffs.

It has been reported that recently, a group of Indian officials met on August 14 to discuss on a list of “target companies” for the same. Further, several government ministries are working on policies and incentive structures related mainly to nine sectors including electronics, autos pharmaceuticals and telecoms. These are to be submitted to Invest India, the country’s foreign investment promotion agency.