Icra says in first two months of the current fiscal, Indian finished steel exports grew 76% YoY, and that China alone accounted for close to 60 per cent of this increase
Several right-wing groups, led by the Hindu Raksha Dal (HRD), are preparing to unleash more protest movements.
Getting shipments from China may only get tougher going forward, industry fears.
The plunge in imports drove the country's trade surplus up to $62.9 billion
Say Beijing's ability to retain MNCs can't be downplayed; Incentives are largely in place, India needs to focus on business environment as well
India's share in the $1 trillion global plastic exports market is 1% currently, while China's is as much as 10%
Economists had forecast that exports would shrink by 11% while imports would contract by 10%.
Shipments out of China are likely to have fallen 15.7 per cent in April from a year earlier, according to a median estimate from the survey of 28 economists
China's exports fell 6.6 per cent in March from a year earlier and imports dropped 0.9 per cent, according to the Customs data
The gloomy trade report is likely to reinforce fears that China's economic growth halved in the first quarter to the weakest since 1990
The study pointed out that "any disruption of China's output is expected to have repercussions elsewhere through regional and global value chains."
PHDCCI President D K Aggarwal said disruptions in the global supply chains will not only hit China's exports but also the exports of the importing countries
The real impact of trade can be gauged after February 8, when the Chinese Lunar Year holidays end
Among the major Asian countries, India and Indonesia are the only ones with a trade deficit in such products
In the face of slacking trade, the trade deficit also declined from $58.04 in 2018 to $56.77 billion.
Total Chinese exports were off 2.5 per cent from a year earlier despite weakening global demand while imports were up 0.2 per cent
Rising inequalities, environmental degradation, social alienation and absence of civil liberties have accompanied this narrative, says former Professor of Delhi University
China's trade surplus also dropped sharply in August to $34.83 billion
While China is not as dependent on exports as in the past, they still account for nearly a fifth of its gross domestic product
Imports fell 5.2% from a year earlier, worse than analysts' forecasts for a 1.4% fall