India Seeks to Win Investment Amid Ongoing China-US Trade War, Coronavirus Outbreak

(Sputnik, Moscow/New Delhi 3 March 2020) The US and China are still engaged in a trade dispute, and the spread of the coronavirus makes a deal less likely, at least in the short-term. The Indian Finance Ministry has revealed that amid the US-China trade war, its exports to the two countries have not only increased but it is also looking forward to enlarging its China Plus-One Strategy. Claiming that trade tensions between China and the US contributed to the decline of world output and trade, the ministry said that India recorded $44.8 million in exports to the USA and $14.6 million to China in 2019. The US-China trade war began in 2018 after US President Donald Trump accused China of unfair trade practices and imposed tariffs on more than $360 billion of imports. China accused the US of trying to stop it from emerging as a global power and retaliated with tariffs of $110 billion on US products. Amid the tensions, the Indian government has granted relief measures to exporters including lower duties and taxes on exported products, a special scheme for higher export credit disbursement and a fast clearance window to boost trade. India has recorded an increase in exports with the US despite higher tariffs and the end to the Generalised System of Preferences, an import subsidy facility, which assisted Indian exports to the tune of $5.6 billion.