India Poised for Economic Growth as Tariff Policies Shift
India could become a major global manufacturing base due to lower tariffs compared to other Asia Pacific nations, according to Moody's Ratings. Ongoing negotiations and trade agreements, despite US tariff policies, may aid India's economic development and attract investment, though challenges remain.
- Country:
- India
India's potential to evolve into a global manufacturing hub is being bolstered by lower tariff exposure compared to its Asia Pacific counterparts, according to Moody's Ratings. This economic advantage could substantially increase investment as India looks to establish itself as a key player in global trade.
Moody's outlook for Asia Pacific sovereigns highlights the challenges faced by tariff-dependent economies like Vietnam and Cambodia. However, ongoing trade negotiations and agreements, such as those with the UK and EU, may enable India to capitalize on this tariff-driven shift.
The strategic moves come amid complex negotiations between India and the US, as both nations unlock potentially lucrative market access and tariff exemptions. Amidst the challenges, stakeholders are eyeing the outcome eagerly amidst an uncertain global trade environment.
(With inputs from agencies.)
ALSO READ
US Ends 2019 Tomato Trade Agreement with Mexico, Imposes Antidumping Duties
Indonesia Embarks on Major Trade Agreement with U.S.
U.S.-Indonesia Trade Agreement Signals Economic Shift
India Seeks Economic Expansion in South America with Comprehensive Trade Agreements
U.S. and Vietnam Near Historic Trade Agreement
Google News