L&T, Siemens: Nine Indian firms to gain from $550-bn Chinese export shift

Findings suggest that most firms surveyed would now prefer to shift manufacturing out of China even if the US reverses the tariffs

Larsen & Toubro (L&T), Siemens, Whirlpool and Havells India are among the nine Indian companies that are likely to benefit from an escalation in trade tensions between the US and China, as the latter looks to shift manufacturing out of its country, says a recent report by Credit Suisse. 

The report, co-authored by Neelkanth Mishra, their co-Head of Equity Strategy, Asia Pacific and Equity Strategist, India, along with Akriti Swaroop and Abhay Khaitan, estimates $350-550 billion worth of exports to move out of China with the major impact likely to be felt now, and could be even higher if the