Expressing need to focus on getting big ticket investments from China, the Federation of Indian Chambers of Commerce and Industry’s (FICCI) President Sandip Somany has said that India should cut interest rates further and adopt consistent policies for the export of agricultural produce to enable Indian exporters to take advantage of the current US-China trade war.
Somany also noted that if the US-China trade war continues, it offers good opportunities for Indian exports in certain areas, adding that the NDA government in its second term should make agricultural exports more competitive by adopting a consistent policy.
FICCI President further said that Chinese companies should be motivated to set up investments in India, as the country has huge trade deficit with China. Besides, he said that India should start selling value added products to China instead of raw materials and chemicals, to boost its exports to China.