Last week, Trump's tariffs on China dropped overnight - from 145% to 30%, vs 27% for India - as the two sides thrashed out an agreement in Switzerland. As a result, there's a chance manufacturing investment that was moving from China to India could either "stall" or "head back", feels Ajay Srivastava of the Delhi-based think tank, Global Trade Research Institute (GTRI).
"India's low-cost assembly lines may survive, but value-added growth is in danger."
The change in sentiment stands in sharp relief to the exuberance in Delhi last month when Apple indicated that it was shifting most of its production of iPhones headed to the US from China to India.
