US to substitute Chinese products with Indian imports
Due to the rising trade tensions between US & China, US is looking to India as an alternative to fulfil some of its import requirements. Sports goods, toys, stationery, cables and electronics parts imported from China have become costlier due to the US-China trade war. At least seven tariff lines are being explored for substitution, including vulcanised rubber, footwear and kitchen accessories. India’s exports of these products were valued at US$ 1.5 billion in 2018-19. But industry experts also warn that India must capitalize on these opportunities soon before competitors like Vietnam and Cambodia take advantage. The Department of Commerce has identified 203 products which could be potentially exported to US. India is already exporting these products to US and is a competitor of China.