The NITI Aayog has recommended fiscal incentives and import tariff reduction for electronic components to propel the domestic electronics industry to a $500 billion market by 2030. The plan aims to achieve a $350 billion finished goods production target and another $150 billion in component making, creating millions of jobs and boosting domestic value addition.
US exports to China fell by 4.3% last year to $144.9 billion, due in part to policy changes and China’s economic slowdown. The US-China Business Council emphasized the importance of considering the geopolitical implications of trade policy decisions and the potential consequences for US sectors such as agriculture. Despite the decline, oilseeds and grains remained the top exports to China, while semiconductor and travel services exports dropped significantly.
