India is developing a plan to reduce its reliance on China for supply chains. The Niti Aayog is working on the strategy, which aims to address the trade deficit with China and secure supply chains from geopolitical risks. The plan will include measures such as tariff and non-tariff barriers, regulatory changes, and supply diversification. A consultancy firm will be engaged to review India-China trade and make recommendations. India ran the highest trade deficit with China in FY23, highlighting the need for focused intervention to de-risk supply chains.
Subscribe to our mailing list to get the latest magazine!
1 day ago
2 days ago