India heavily depends on software consulting and BPO exports for its foreign currency (over 100 billion usd per year).
If China really wants to retaliate, it can sanction the WITCH companies and force any multinational who wants to be in China to not use them. This will also benefit competitors in other developing countries like Phillipines or Pakistan.
India is playing with fire here. Especially dropping out of RCEP, the risk being encircled economically.
If China really wants to retaliate, it can sanction the WITCH companies and force any multinational who wants to be in China to not use them. This will also benefit competitors in other developing countries like Phillipines or Pakistan.
India is playing with fire here. Especially dropping out of RCEP, the risk being encircled economically.