India Outperforms China, Becomes Only Asian Nation to Expand Its Exports Share Since Start of 'Tariff Wars'

New Delhi, August 1: Among the ten major economies of Asia, India is the sole nation to have benefitted following the "tariff wars" which broke out between the United States and several emerging countries since late 2017. A fresh report has revealed that India has outperformed China in terms of exports' share growth.

Data compiled by Bloomberg has revealed that India's share in global exports accelerated from 1.58 per cent in the last quarter of  2017 to 1.71 per cent in the first quarter of 2019. In the same period, leading exports including South Korea, Japan and China faced a shrink. India Has Excellent Opportunity to Reap Profits From US-China Trade War, Says Centre

Experts claim that one of the reasons why India has so far not been adversely affected due  to the trade war is due to the economy not being tightly linked to the global supply chain.

The point was reflected in a recent interview to a media publication by RBI Governor Shaktikanta Das, who said that India is not embroiled in the "global value chain", and has therefore survived the adverse effects of US-China trade war.

According to Rakesh Mohan Joshi, a professor at the Indian Institute of Foreign Trade in Delhi, India's market as well as production is "diversified", which has proven to be advantageous in this tumultuous period across the globe.

Notably, India's exports to both China and the US has grown throughout 2018, claim the data released by Ministry of Commerce. While exports to America is at its highest point in the last six years, they have surged by 31 per cent to China.

(The above story first appeared on LatestLY on Aug 01, 2019 05:36 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).