The escalating tensions between the two major trading nations in the world—the US and China—has been a cause of deepening concern in terms of its adverse impact on the financial markets across the world and also the economy, a FICCI press release said.
In such a situation, the encouraging signals from the US President Donald Trump and Chinese President Xi Jinping’s meeting in Argentina have already initiated the process that, in all probability, will succeed in defusing the impending global trade war which threatened to impact world trade in a major way, the release added.
“The very fact that no additional tariffs will be imposed by the US and both sides will engage in negotiations, is a big relief for other trading nations, including India. Also, with the G20 nations agreeing for the required reforms in the multilateral trading platform WTO, India’s role in this exercise will be critical in bringing together all the countries to the discussion table for finding a workable solution,” said FICCI president Rashesh Shah.
“As the country (India) will now be hosting the G20 summit in 2022, it can play an important role in helping the positive results of the Argentina meeting deliver concrete results, going ahead,” he added. (RKS)
Fibre2Fashion News Desk – India
| On 19th Jun 2021
Of almost 305,000 tonnes of textiles discarded in Australia’s New...
A survey of 540 South Korean exporting firms by the Korea...
Resetting and reimagining the innovation agenda for the...
Cannot see the world breaking away from cotton & polyester
Fabric selection & recommendation based on client's brief
Donating 20,000 N95 masks to hospitals & NGOs
The entertainment/character segment lead as the largest sector for the...
The Riri Group is a one-stop supplier of metal accessories for the luxury...
Trützschler, one of the world's leading textile machinery manufacturers,...
<div>RocketLife, an award-winning developer of breakthrough visual...
Non Woven Federation of India
The Non Woven Federation of India (NWFI), representing the regional...
Freudenberg Performance Materials is a leading global manufacturer of...
Label Seema Gujral
<b>Seema Gujral</b>'s designs for her eponymous label revolve around...
Abhishek Bajaj & Samiksha Bajaj
Samshek is a fashion forward tech brand which combines digital experience...
Shalini Sharma & Shweta Pundir Sharma
Six Yard Story
Six Yard Story is a premium artisanal brand with a focus to bring handloom ...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.