India should cut interest rates to help exporters take advantage of US-China trade war: Ficci chief

| | Beijing
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India should cut interest rates to help exporters take advantage of US-China trade war: Ficci chief

Sunday, 26 May 2019 | PTI | Beijing

India should cut interest rates further and adopt consistent policies for the export of agricultural produce to enable Indian exporters to take advantage of the current US-China trade war, industry body Ficci's President Sandip Somany said Saturday.

Currently on a business trip to China, Somany also said the NDA government in its second term should focus on getting big ticket investments from China, specially in the capital goods sector, and motivate Chinese machinery manufacturers to set up plants in India.

The bruising US-China trade war, under which both countries have slapped billions of dollars worth of tariffs on each other's exports, offers a big opportunity for some category of Indian exports to make a dent in both the US and Chinese markets, Somany told PTI here.

Somany, who is the vice chairman and managing director of HSIL Limited, the second largest glass manufacturer India, also met the Indian Ambassador to China Vikram Misri and the Secretary of China's Boao Forum for Asia, Li Baodong.

If the US-China trade war continues, it offers good opportunities for Indian exports in certain areas, he said.

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