Author: Biz India

By Abhishek Bansal – MoneyControl “We expect the trade talks to end on a positive note and the Chinese economy will become more competitive, which is going to be positive to the world economy and India would also benefit from it.” May12, 2019 – The trade tariffs war between the United States and China is having an impact on global financial markets and India is no exception to this. Although India is finding some benefits out of the tariff war, it is still far away from receiving any significant benefits. India is the ninth largest trading partner of the US. In 2018, it exported $83.2 billion of goods to the US and imported $58.9 billion of goods, with a trade surplus of $24.2 billion. These numbers are up significantly from 1995, when India exported 6.6 billion of goods to the US and imported 4.6 billion, ending with a small trade surplus of $2 billion. India has a lesser chance to offer products that China provides to the US and hence India may not gain significantly if the trade war intensifies. India exports mainly precious metals, diamonds, pharmaceuticals, minerals and vehicles to the US. On the other hand, China exports mainly electronics, machinery furniture, toys and plastics. India exports steel and aluminum to the US and increased tariffs on Chinese products have helped India to raise its exports to the...