Trade war an opportunity for India to attract multinationals: Panagariya

The escalating trade war between the US and China is an "opportune time" for India to attract the large multinationals looking for alternative locations outside the Communist country, eminent economist Arvind Panagariya has said.

Speaking at a panel discussion organised by the Consulate General of India in New York, Panagariya strongly called for India to slash tariffs on imported motorcycles and automobiles through "give and take" negotiations with the US.

He said as the large multinationals "are coming out" of China, "it is an opportune time for India to do whatever it will take to bring these multinationals to the Indian shores".