Higher US tariffs on rival manufacturing hubs can benefit India: MAIT

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Higher US tariffs on rival manufacturing hubs can benefit India: MAIT - Business Standard

Quick Summary:

The 26 per cent tariffs imposed by the US on India may create some headwinds, but relatively higher levies on competing nations may hand India an edge, tilting the scales in its favour and increasing its appeal in global supply chains, according to electronics and IT hardware industry body MAIT.

India's USD 7-billion smartphone exports to the US may face some pressure due to evolving trade policies, but the real advantage lies in the comparative tariffs imposed on competing nations, Manufacturers Association for Information Technology (MAIT) said.

Manufacturing hubs such as China face a 54 per cent levy, Vietnam (46 per cent), and Thailand (36 per cent) as a result of the US' sweeping tariff actions, which have since spooked financial markets and trade partners.