With US-China sealing a deal to ease the trade war, there seems to be a ray of hope for businesses across geographies. China has agreed to boost US imports by US$ 200bn and strengthen intellectual property rules while in exchange, the US has agreed to cut some of the new tariffs it has imposed on Chinese products. Having said that, experts believe there is room for improvement as most of the border taxes remain in place.
On the other side, according to December trade data, India's exports have declined for the fifth straight month. Despite the slowdown, segments like electronic goods, drugs & pharmaceuticals, marine products, and readymade garments have outshined. The US-Iran tension and the increasing trade deficit with China, has alarmed Indian stakeholders. As the countdown to Union budget 2019-2020 begins, the exporters hope that significant allocation is made by the government to boost the sector while paving a way for the upcoming foreign trade policy 2020-2025.