LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

India to suffer damage due to US-China trade war: Assocham

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
India to suffer damage due to US-China trade war: Assocham
Assocham citing its report on the regime change in the US said India will suffer damage, particularly in sectors such as information technology and select goods exports to the US market. Image Source: Pixabay
Written By: IANS
Updated: Sun, Jan 08, 2017
11:30 am
IANS
RELATED NEWS
64,000 jobs in 8 core sectors in April-June period; women outwit men: Report 64,000 jobs in 8 core sectors in April-June period; women outwit men: Report
Growth in bank credit a positive sign: CARE Ratings Growth in bank credit a positive sign: CARE Ratings
BSE Sensex jumps 119.57 points to a fresh high at 33,956.31 BSE Sensex jumps 119.57 points to a fresh high at 33,956.31
After a blip, exports jump 30.55% to over $26 billion in November After a blip, exports jump 30.55% to over $26 billion in November
Russia urges India to line up behind China's Belt and Road initiative Russia urges India to line up behind China's Belt and Road initiative

India may suffer collateral damage to its economy if it finds itself in the crossfire in the escalating trade war triggered by US President-elect Donald Trump with Mexico and China, industry chamber Assocham said on Sunday.

Assocham citing its report on the regime change in the US said India will suffer damage, particularly in sectors such as information technology and select goods exports to the US market.

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

It said Trump`s election campaign threats to American companies against job outsourcing to China and Mexico are now quite likely to be realised.

"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 $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," the report said.

India should not sit and watch the trade war among the big economies from the sidelines, Assocham said.

"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," the statement said.

"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 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 India," it added.

Assocham Secretary General D. S. Rawat said: "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."

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
tradeindiaChinaUSUnited StatesInformation technologyITexportsImportsTrade deficit
RELATED NEWS
64,000 jobs in 8 core sectors in April-June period; women outwit men: Report 64,000 jobs in 8 core sectors in April-June period; women outwit men: Report
Growth in bank credit a positive sign: CARE Ratings Growth in bank credit a positive sign: CARE Ratings
BSE Sensex jumps 119.57 points to a fresh high at 33,956.31 BSE Sensex jumps 119.57 points to a fresh high at 33,956.31
After a blip, exports jump 30.55% to over $26 billion in November After a blip, exports jump 30.55% to over $26 billion in November
Russia urges India to line up behind China's Belt and Road initiative Russia urges India to line up behind China's Belt and Road initiative

LATEST NEWS

CBSE Class 10, 12 exams 2021 cancel request: BIG Assurance comes from CBSE; This is what Board says now

Vakeel Saab Collection: Blockbuster! Pawan Kalyan comeback movie sets box office on fire!

Remdesivir export ban due to Covid 19 spike: This is what Modi government told domestic manufacturers

CBSE Board Exam 2021: Students, do not miss this latest news! Will CBSE CANCEL class 10 class 12 board exams? Check UPDATES here

Anil Singhvi’s Strategy April 12: Day support zone on Nifty is 14,675-14,700 & Bank Nifty is 32,000-32,150

Covid 19 surge: Now, Yogi Adityanath government announces closure of UP schools till THIS date

Petrol, Diesel Price Today 12-04-2021 – Rates remain unchanged for 13th day; Know latest fuel prices in Delhi, Mumbai, Kolkata and Chennai

Gold Price Today 12-04-2021: Weekly investment strategy on Gold, Silver - Outlook remains STRONG even as some Profit Booking seen on Friday; BUY bullion at these levels

Lockdown in Delhi? CM Arvind Kejriwal confirms this after review meeting

CBSE Board Exam 2021 Latest News: Class 10, 12 students alert! Controller Dr. Sanyam Bhardwaj says this

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved