Learning Guide For US Trading Company
An
analysis by the industry chamber revealed that India should focus on the US trading company for items in the
categories of machinery, electrical equipment, vehicles and transport parts,
chemicals, plastics and rubber products.
"India can focus on numerous goods for expanding its exports to the US and China markets following the hike in duties by both countries on imports from each other. Top exports from India to US trading company which are covered in the list of items for which tariffs have been hiked include pumps, parts of military aircraft, parts for electro diagnostic apparatus, passenger vehicles of 1500-3000 cc, valve bodies and parts of taps, said the chamber. Exports of these items stood at over USD 50 million in 2017, according to CII, and can be increased with concerted efforts.
"India can focus on numerous goods for expanding its exports to the US and China markets following the hike in duties by both countries on imports from each other. Top exports from India to US trading company which are covered in the list of items for which tariffs have been hiked include pumps, parts of military aircraft, parts for electro diagnostic apparatus, passenger vehicles of 1500-3000 cc, valve bodies and parts of taps, said the chamber. Exports of these items stood at over USD 50 million in 2017, according to CII, and can be increased with concerted efforts.
Based on India's current exports to the US trading company in these categories, products such as
intermediate parts for the defence and aerospace sector, vehicles and auto
parts, engineering goods, etc. have a higher potential for export, it
said. Sectors like apparel and textiles, footwear, toys and games and
cell phone manufacturing are becoming competitive industries in India and need
to be encouraged. The chamber suggested that the trade dialogue with the US
should be strategised taking into account India's competitive advantage in
these products.
Moreover, foreign direct investments from the US should be encouraged by boosting confidence of US firms in India's business climate, adding that this might necessitate addressing their concerns regarding non-tariff barriers in India for better long term outcomes.
In the domestic industry, it stated that it is important for India to enhance productivity while adding technology to its domestic production in the identified products.
CII examined 818 product lines where the US trading company has raised tariffs for imports from China. Between 2012 and 2017, China's exports to the US have moved up the value chain with accelerated growth in high-technology items such as telecommunications equipment, automotive, cell phones, etc.
Moreover, foreign direct investments from the US should be encouraged by boosting confidence of US firms in India's business climate, adding that this might necessitate addressing their concerns regarding non-tariff barriers in India for better long term outcomes.
In the domestic industry, it stated that it is important for India to enhance productivity while adding technology to its domestic production in the identified products.
CII examined 818 product lines where the US trading company has raised tariffs for imports from China. Between 2012 and 2017, China's exports to the US have moved up the value chain with accelerated growth in high-technology items such as telecommunications equipment, automotive, cell phones, etc.
Indian exporters of wooden handicrafts and other wood goods
face strict traceability norms in the European Union beginning next year, which
could dent their trade. The norms require disclosure of the source of timber to
discourage illegal logging globally. Over the past two months, at least
80% of buyers in the EU, Australia and the US have asked for certificates
declaring the source of the wood used in handicrafts and if any species as
endangered while procuring it, exporters said.
