Indian media: India seeks to attract American companies looking to leave China.

A source told the Indian Economic Times that within the framework of the trade agreement即将与 the US, India will support its own companies in expanding into the US market while also exploring and attracting American companies looking to transfer production from China to cooperate with them.

The source stated: "Against the backdrop of the ongoing escalation of the Sino-US tariff war, global supply chains in industries such as electronics, toys, and pharmaceuticals are expected to be restructured. India is swiftly exploring and attracting American companies looking to move production out of China to take advantage of this opportunity for profit. The Indian government also hopes to support Indian enterprises in actively expanding into the US market and recently held a meeting with business representatives to discuss relevant strategies."

Experts interviewed by the newspaper pointed out that these measures were taken ahead of New Delhi's online negotiations with Washington on a bilateral trade agreement, which is expected to begin this week.

The source noted: "The government has identified 10-12 industries in which India may have competitive advantages, including electronics, pharmaceuticals, chemicals, automobiles, toys, air conditioners, and home appliances, which will receive support."

He further noted that the Indian government has "clearly indicated that it will support joint ventures and technology transfer agreements because it is necessary to develop an ecosystem in India."

In early March, Indian Foreign Ministry spokesperson Randeep Surjewala stated that India hoped to resolve tariff issues with the US under the future trade agreement framework announced during Indian Prime Minister Modi's visit to the US in February.

The two countries set a goal to complete the first phase of the agreement by autumn this year, September-October, and aim to double bilateral trade from the current $191 billion to over $500 billion by 2030.

Original article: https://www.toutiao.com/article/1829646227488780/

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