Is India ready to take the advantage of US-China trade war
Consistent overgrowing nation India can take some advantage from US-China trade war by taking the market place globally in synthetic or so called man-made Fibre. Though it’s holds a great opportunity for India to spreading it’s business more place with good quality of products reasonable price and reducing carbon dioxide emissions from industries as experts expected.
According to textile Secretary Ajit B Chavan, we need to come up with a strong plan as we can take our textile industry into next level to competitive globally. We’ve been observing last several years; our intention on only production but now we have to be serious about product quality and out her criteria to improve our products standards in global markets. “It is high time that the industry changes its approach to move into the second growth phase and aim for exports of around $100 billion from the current $40 billion,” He said at the CII Texexcel 2019, the National Textiles 4.0 Summit in India.
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China is well known for making all types of goods and export all over the world, so that due to low budget China export cheap goods in India. In this matter Grasim Industries Dilip Gaur (Chairman, CII National Committee on Textile & Apparel & Managing Director) said, “India needs to create trade barriers for China to prevent it from dumping cheap textile products into India. The textile industry aims to be a $350 billion industry by 2025 from the current $137 billion.
Companies should also look at reducing carbon footprints. India should look at presenting itself as a competitive manufacturing nation,” Agarwal added.
Now it’s a matter of time , to see how India use this glorious opportunity to make its own business footprint one step ahead in global market in the race of us-China trade war. The trade was was started when USA banned Chinese oriented brand called huawei mobile.