Industry sees gains in electronics over China, Vietnam

With a reciprocal tariff rate of 27% imposed by the United States starting April 9, India stands in a favourable position compared to competitors like Vietnam (46%), Thailand (36%), and China (54% – 34% reciprocal plus additional 20% ). However, it will face challenges from manufacturing nations such as Turkey, Brazil, and the Philippines, with duties of 10%, 10%, and 17%, respectively.

Analysts said that India’s long-term success hinges on securing a robust bilateral trade agreement (BTA) with the US as other countries are also expected to open lines for similar pacts.