Finance Minister Nirmala Sitharaman said that amidst growing trade tensions between US and China, India can turn out to be the favorable destination for MNCs moving out of China
FM Nirmala Sitharaman announced a cut in the corporate tax rate for manufacturing such units to 17 per cent which is likely to attract MNCs to establish units in India, especially when companies are looking beyond China given its trade war with the US
Indian Government has taken steps ahead to capitalize trade by allowing global companies to invest in India amidst US-China trade war
Though opportunities for India are aplenty, it remains to be seen whether it would be able to capitalize on the growing distress between the two major economies of the world
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'China's growth slowdown could be faster than expected especially if trade tensions continue, and this can trigger abrupt sell-offs in financial and commodity markets as was the case in 2015–16'