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India’s Share Of World Exports Rises Despite US-China Trade War, Only Major Asian Economy To Do So
India’s share in world exports have grown to 1.71 per cent in Q1 of FY20 (Representative Image ) (Pic Via GettyImages)
India is the only major Asian economy whose share in the world exports grew after the beginning of the tariff wars in 2018, reports The Hindu Business Line.
According to the report, while India’s share of world exports grew to 1.71 per cent in the first quarter of 2019 from 1.58 per cent in the fourth quarter of 2017, the share of every other economy among the 10 biggest exporting nations of Asia, including China, fell during the same period.
One of the reason behind the India’s performance is that the country is not as integrated into global manufacturing supply chains as peers. This reportedly provides the Indian exporters cushioning from the rising trade tensions in the region.
As per the report, governor of the Reserve Bank Shaktikanta Das, in a recent interview, had said that India is not part of the global value chain and so the trade tensions between United States and China does not impact India as much as several other economies.
Ajai Sahai, director general and chief executive officer of the Federation of Indian Export Organisations, said that the trade tensions between US and China have provided India an opportunity to increase exports to both countries.
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