No impact of US-China trade war on India: Krishnamurthy Subramanian

The ongoing trade war between United States of America and China will not have any impact on Indian export which is just below 2 per cent of the global trade, Chief Economic Advisor Krishnamurthy Subramanian said on Monday.

 

Speaking to reporters on the sidelines of a programme here, he said the slew of measures announced by the Centre for the revival of muted growth in the economy were in the right direction, though it was necessary to focus on the 'structural reforms

 

Our exports share is still very small. Our share of global export trade itself is about 2%. Therefore, we still have enormous opportunity to grow. Even if there is actually some shrinkage in the pie of the global trade, still we can grow our pie. Exports cannot grow unless actually we emphasise on productivity, he said when asked about the impact of the tariff war between US and China on India.

 

 

I would also add that news that the United States and China are actually sitting together and there may be a breakthrough that is coming possibly in which case will be good, he further said.

 

Last week, Finance Minister Nirmala Sitharaman had announced a raft of measures, including rollback of enhanced super-rich tax on foreign and domestic equity investors, exemption of start-ups from 'angel tax' and a package to address distress in the automobile sector, among others.