24/10/2019
Amid rising trade tensions, American importers of sports goods, toys, stationery, cables and electronics parts have reached out to Indian sellers of these goods as Chinese products become expensive due to the US-China trade war.
The US is looking to replace Chinese exports with Indian products in at least seven product lines including vulcanised rubber, footwear and kitchen accessories. “Importers in the US have shown keen interest in our products in at least seven tariff lines,” said an official in the know of the details. “We have a five-six month period to make use of this opportunity before Vietnam and Cambodia fill in the space vacated by China.”
India exported these items worth $1.5 billion in FY19 to the US, and the industry is keen to ramp up capacity to meet the potential demand.
“We are getting enquiries in large numbers from the US to replace Chinese exports of toys, footwear, apparel and engineering goods,” said Federation of Indian Export Organizations president Sharad Kumar Saraf.
“There is scope to increase exports of these products by 25%.” He added that the inquiries have increased since the US’ announcement to impose a 25% duty on some Chinese products.
“Though it is difficult to put a number to the queries received, in case of footwear, an American importer wants one million pairs annually.
This is beyond our existing capacity,” said an industry insider, requesting anonymity.
Saraf said industry can meet the higher demand by increasing production by at least 20%.
CHINESE CHECKERS
The enquiries have come at a time when India’s exports to China declined in June & the country is also staring at ..
India’s shipments to Hong Kong dropped 9.68% in June.
As per the official, Beijing has already reduced prices by 4-5% so as not to lose market to Indian suppliers.
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