Key Points
Amid a tariff war with the US, China could turn India into a dumping ground for its products such as electric vehicles and batteries, a report has claimed.. "Both the USA and the European Union (EU) are cutting imports of electric vehicles from China..
The raising of tariffs on EVs, batteries, and many other new technology items by the US may push China to dump these products in other markets, including India," Global Trade Research Initiative (GTRI) said in its report...
US President Joe Biden has imposed heavy tariffs on Chinese electric vehicles, batteries, steel, solar cells, and aluminium, saying it would ensure that American workers are not held back by unfair trade practices...
We are in a stronger position to win that economic competition of the 21st century against China than anyone else because we're investing in America again, he said.. Biden alleged that for years, the Chinese government has poured state money into Chinese companies across a whole range of industries: steel and aluminium, semiconductors, electric vehicles, solar panels, and even critical health equipment, like gloves and masks...
Higher duties on Chinese face masks, syringes and needles, medical gloves and natural graphite provides India opportunity, GTRI's founder Ajay Srivastava said, adding that the South Asian nation could ramp up production and exports of these products to bulk up US market..
You might be interested in
Biden orders US investigation of national security risks posed by Chinese-made 'smart cars'
29, Feb, 24Biden orders US investigation of national security risks posed by Chinese-made 'smart cars'
Chinese EV maker sold 5x what India’s whole industry did, and in 1/3rd time. What's behind this gap
08, Nov, 23With its own EV market in a nascent stage, India could be an attractive investment destination because China's economy is slowing and Europe is looking to curb Chinese imports.
India's push for EVs may lead to large-scale entry of Chinese firms in domestic market: GTRI
25, Mar, 24As the EVs are getting greater focus in the country, the auto component imports from China may increase further because it has a greater hold over the EV components' global supply chain.
Tata Motors wants EV sops extended; Peak XV's new fund
12, Mar, 24Tata Motors, which dominates the local EV market with a share of more than 70%, wants New Delhi to help replicate an enabling environment similar to the one in China that has pledged to support adoption of electric vehicles until unit sales touched at least a fifth of all new cars sold.