Huge opportunities for Indian exporters to fill the global market vacated by China: Assocham

The adverse effects of China’s current economy open way to Indian exporters to fill the export demand in the global market said by industry body Assocham. They said Indian exporters of electronics, chemicals, pharmaceuticals, and automobile sectors depend on China for raw materials, but there are other sectors where domestic exporters can get the benefits.

A large number of exports in the engineering sector can fill the market vacated by China, similarly, exports of other products such as leather and leather goods can also be exported in big numbers, said by Deepak Sood, Asocham Secretary-General.

Stating to point of improvement, he said that India can also tap the huge opportunities in agriculture and carpets, and it needs to scale up several sectors to compete effectively with China, even after they normalize their complete supply chain.

China’s factory output level reduces to the lowest in the last two decades in February, according to the latest PMI (Purchasing Managers’ Index) data, which going to have severe consequences in the global market, said by Assocham.

Though India is currently having steady export in the global market, the absence of China in the world's supply chain is providing a greater chance to increase its market share and growth.

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