Sun, Mar 26, 2017 | updated 06:37 PM IST

India may get caught in cross fire of US-China trade war, says ASSOCHAM

Updated: Jan 09, 2017 15:32 IST

New Delhi [India], Jan 9 (ANI): In an escalating trade war triggered by the US President elect Donald Trump with Mexico and China, India may find itself in the cross fire with collateral damage to its economy, particularly to sectors such as information technology and select goods exports to the American market, an ASSOCHAM Paper has said.

"Though China and Mexico are in direct firing line of Donald Trump, India needs to watch out and must build bridges with the upcoming American administration and assuage the concerns about the American jobs," the chamber said.

Those who thought the Trump threat to the American companies against job outsourcing to China and Mexico , particularly in the manufacturing, was only an election rhetoric are in a for a rude shock.

The paper further stated that the Trump threat to protect the US interest in an inward looking manner is for real now. The manner in which Ford has announced scrapping of its USD 1.68 billion plan to set up a manufacturing plant in Mexico shows that Trump means business when it comes to carrying out the threat of heavy border tax on the US firms which, as he calls it, ship the jobs abroad.

"India should not sit and watch the trade war among the big economies, mainly the US and China from the sidelines. We must take pro-active steps to ensure that we remain on the right side of the upcoming US administration; or else the impact could be on the Indian services exports to the American firms," added ASSOCHAM.

"With its economy being aggressively export driven, particularly in manufacturing, China would look for alternative export destinations outside the US in Europe and Asia. In the coming months, after inauguration of Trump to the White House, China would double up dumping of its goods to countries like India as it gets entangled with the US over trade barriers," it said.

The dumping from China has been quite severe in the recent few years in areas like steel aggravating the problems of the Indian industries.

Under the given circumstances, the Indian government along with trade bodies like apex business chambers, influential think tanks, opinion leaders and a large diaspora must work for an effective lobbying to explain to the US policy makers as to how free trade, more so, in services would help both the US and the Indian companies.

"If the US gives jobs to Indians in back-end operations, India gives a huge market to the giants like Google, Microsoft and Intel who are all now looking at the digital expansion in the Indian economy. So, it is a win-win situation for both the countries," the ASSOCHAM Secretary General said. (ANI)

New Delhi [India], Mar 25 (ANI): The wildlife conservation worker, like most of their subjects, is an elusive person. To celebrate the outstanding contribution of these simple, hardworking, humble yet extraordinary people, ZEISS group acknowledged these talented individuals in wildlife conservation through their annual ZEISS Wildlife Conservation Awards and this year on March 24th, 2017 at Indian Habitat Centre, New Delhi.

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New Delhi [India], Mar 25 (ANI): Vestas Wind Systems, the world's leading wind power solutions provider, today inaugurated a state-of-the-art wind turbine blade manufacturing unit in Gujrat.

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New Delhi [India], Mar 25 (ANI): In yet another fun filled afternoon for fashion and sports enthusiasts, India's leading fashion e-tailer, Jabong, hosted a launch event with the legendary Indian Cricket all-rounder Yuvraj Singh unveiling his sports lifestyle brand YWC on the portal.

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New Delhi [India], Mar 25 (ANI): To bridge the huge infrastructure gap, India will need much more participation from the private sector and for these conventional modes of healthcare funding will need to be aided by innovative modes funding to improve healthcare investments in India, reveals a NATHEALTH-PwC Report which was released here today at NATEv2017, an annual seminar organized by the Healthcare Federation of India (NATHEALTH).

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New Delhi [India], Mar 25 (ANI): Oxigen Services, India's largest payment solutions provider, today signed a Memorandum of Understanding with the Department of Tourism, Arunachal Pradesh for becoming the preferred partner for providing digital payment solution to the residents and tourists visiting the state.

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New Delhi [India], Mar 25 (ANI): Union Finance Minister Arun Jaitley on Saturday approved the re-organization of the field formations of the Central Board of Excise and Customs (CBEC) for the implementation of Goods and Services Tax (GST).

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New Delhi [India], Mar 25 (ANI): India and World Bank on Saturday signed a financing agreement for IDA credit of USD 100 (equivalent) for the "Uttarakhand Health Systems Development Project".

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New Delhi [India], Mar 25 (ANI-NewsVoir): Shardul Amarchand Mangaldas and Co. (SAM & Co) acted as the legal advisor to Coal India Limited and its subsidiaries, in the matter involving imposition of a fine on CCI of INR 1773. The Competition Appellate Tribunal (COMPAT) had set aside the order of the CCI imposing a fine on CIL, as well as two related orders and has remitted the matters back to the CCI for fresh consideration.

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New Delhi [India], Mar. 25 (ANI): The Securities and Exchange Board of India (SEBI) has barred 13 companies, including RIL, from dealing in equity derivatives in the Futures and Options (F&O) segment of stock exchanges, directly or indirectly, for a period of one year.

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New Delhi [India], Mar. 25 (ANI): Arundhati Bhattacharya, Chairman, State Bank of India (SBI) has been ranked 26th in the fourth edition of Fortune's 'World 50 Greatest Leaders' list.

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Kantar Millward Brown Media Conclave 2017

Updated: Mar 24, 2017 18:27 IST

New Delhi [India], Mar 24 (ANI-BusinessWireIndia): WPP -Kantar's brand, communications and media research unit Kantar Millward Brown conducted its annual Media Conclave 2017 in Mumbai. This year's Media Conclave focused on the impact of various media Ad Formats on campaign performances. The conclave played host to some of the country's top most Marketing, Media and Media Insights leads.

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New Delhi [India], Mar 24 (ANI): International Monetary Fund (IMF) which has 189 countries as member for Global Monetery co-operation in its conference called the Indian Government to share the success story of Demonetisation.

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New Delhi [India], Mar 24 (ANI): With the immense success of the first edition of India Expo Shop Summit, The Indian Exhibitions, Conferences and Events Services Association (IESA), an apex organization working towards the development of the exhibitions, conferences and events services sector in India, in collaboration with key industry bodies, government organizations including Department of Commerce, Ministry of Commerce and Industry, Government of India, Confederation of Indian Industry (CII), and Services Export Promotion Council (SEPC), is organizing the second edition of the India Expo Summit 2017 (IES 2017) at India Expo Centre and Mart, in Greater Noida, Uttar Pradesh on 17th April 2017.

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New Delhi [India], Mar 24 (ANI): Online connecting portal for women looking to restart their careers JobsForHer marks the end of its successful two years and the beginning of its buoyant third year operations this month.

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New Delhi [India], Mar 24 (ANI): In ICRA's view, the demand for fertilizers in H1 FY2018 will witness moderate growth, given the lower base for H1 FY2017 and improved spending power of the farmer community with higher MSPs for rabi crops and strong sowing witnessed during the season.

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New Delhi [India], Mar 24 (ANI-NewsVoir): Marking its presence in Gujarat, All India Rubber Industries Association (AIRIA), the august body of Rs. 85,000 crore rubber industries in India has opened its Gujarat chapter in Ahmedabad. As representative body of over 5,000 rubber products manufacturers in the country (largely MSMEs), AIRIA already has offices in Mumbai, Delhi, Chennai and Kolkata with a chapter office in Pune.

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Will make Goa beggar-free state: Parrikar

Updated: Mar 24, 2017 15:23 IST

New Delhi [India], Mar 24 (ANI): Chief Minister Manohar Parrikar on Friday emphasized on making Goa the first ever beggar-free state.

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New Delhi [India], Mar 24 (ANI): With the announcement of Rs. 978.84 crore for the social sector, Chief Minister Manohar Parrikar on Friday said that Goa will be made a garbage free state by 2020.

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New Delhi [India], Mar 24 (ANI-BusinessWireIndia): Tata Capital, the financial services arm of the Tata Group, today, announced the launch of 'myLoan' - a first-of-its kind Mobile App by the company to extend its existing personal loan offering to the emerging younger and mobile savvy audience.

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