'Trade war between India & China not good for global economy'
Anand Bhadkamkar, COO - South Asia, Dentsu Aegis Network, however, said a trade war may help India replace Chinese exports to the US
A long drawn trade war amongst the world's two largest economies is neither beneficial for either of the countries nor for the global economy, Anand Bhadkamkar, COO- South Asia, Dentsu Aegis Network, has said.
However, in the short term, this does provide a good window for India to benefit with the possibility of replacing Chinese exports to the US in some of the sectors.
“With the US trying to reduce its trade deficit with China by increasing duties on Chinese products, this has opened up opportunities for Indian firms to increase exports to the US. After China, India has the ability to match the scale and quality to fulfil the demand in the US markets. Currently, the domestic consumption in India is muted, and if companies are able to tap this opportunity to help boost the export sector, while not directly, it will help improve consumer optimism and also benefit advertising spends in these sectors - especially digital advertising including search and performance marketing."
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