New Delhi, March 4: The current slowdown in the US economy is likely to increase inflow of Chinese goods into India and intensify competition between the two countries for South Asian markets, member Planning Commission, SP Gupta said on Sunday."Almost 40 per cent of the exports of China are to the US markets and with the slowdown, these goods are increasingly likely to find their way into markets like India," Mr Gupta said here. Experts have predicted a US economy slowdown of between two to 2.7 per cent this year, he said, adding that the same will lead to diversion of trade from the US to other markets.
The competition between India and China, especially for markets in South Asia is also expected to become more fierce this year on account of the US economy slowdown as well as removal of quantitative restrictions (QRs) in April.
(PTI)
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