India likely to gain $11bn in exports from US-China trade war: UNCTAD

There may be a golden lining for India in the dark clouds of the tariff war waged by US President Donald Trump against China, and it is likely to increase its exports by as much as $11 billion if the proposed tariffs go into effect next month, according to the UN's trade arm.

Statistics for India obtained by IANS from the UN Conference on Trade and Development (UNCTAD) show that the nation will benefit the most as a result of the tariffs proposed by the US on Chinese imports, increasing exports by $8.3 billion.

It will gain $2.65 billion from China's tariffs on US imports. Explaining the effect of the tariff war on other countries, Pamela CokeHamilton, the head of UNCTAD's international trade division said recently: "The US-China bilateral trade will decline and be replaced by trade originating in other countries."

"Our analysis shows that while bilateral tariffs are not very effective in protecting domestic firms, they are valid instruments to limit trade from the targeted country," she had said while launching a study, Key Statistics and Trends in Trade Policy 2018, earlier this month.