Higher US tariffs on rival manufacturing hubs can open up opportunities for India: MAIT

New Delhi: The 26% tariffs imposed by the US on India may create some headwinds, but relatively higher levies on competing nations may hand India an edge, tilting the scales in its favour and increasing its appeal in global supply chains, according to electronics and IT hardware industry body MAIT. Manufacturing hubs such as China face a 54% levy, Vietnam (46%), and Thailand (36%) as a result of the US’ sweeping tariff actions, which have since spooked financial markets and trade partners.