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China+1 strategy: India's mixed gains
Industry News- Dec 05,24
India’s strategic response to these challenges could determine the extent of its long-term gains from the evolving global supply chain realignments.
India's potential to benefit from the ‘China plus 1’ strategy remains promising despite initial setbacks in capitalising on early opportunities, according to Niti Aayog officials. They believe that as companies diversify supply chains from China, many have turned to Vietnam and Mexico.
However, these nations lack the capacity to fully meet global demands, positioning India—with its vast market and a decade of economic reforms—as a strong contender for future investments.
Niti Aayog member Arvind Virmani highlighted that former U.S. President Donald Trump's proposed 60% tariff on Chinese imports could create opportunities for Indian businesses, despite potential short-term disruptions.
The report also cautioned about the risks posed by the European Union’s carbon tax on high-emission exporters. India’s iron and steel industry, which constitutes 23.5% of the nation’s exports to the EU, is particularly vulnerable to this environmental levy.
India’s strategic response to these challenges could determine the extent of its long-term gains from the evolving global supply chain realignments.
(New Indian Express)
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