India beats trend, grows exports as US-China tussle hits major Asian economies.

While the ongoing US-China trade war caused exports to decline in major Asian economies, India actually benefited from the strained relations of the world's top two economies, a Bloomberg report says.

Limited ties with the neighbouring giant, and a diversified export basket proved advantageous as India’s share in world exports rose to 1.71 per cent in Q1FY19, compared to 1.58 per cent in Q4FY17. During the same period, the export share of Asia’s top 10 exporting nations declined, the report said.

The business wire report recalled that Reserve Bank of India Governor Shaktikanta Das had felt that India, not being a part of the global manufacturing supply chain, would be more or less insulated, and this would help mitigate the situation for domestic exporters.

Das had said, "India is not part of the global value chain so US-China trade tension does not impact India as much as several other economies."

Among top Asian exporters, South Korea and Japan suffered large drops in exports. Both countries maintain close ties to the US but count China as their largest buyer. India, on the other hand, counts China as its third-largest export market behind the US and the UAE.

Bloomberg quoted Ajay Sahai, director-general and chief executive officer of the Federation of Indian Exports Organisation (FIEO), as saying "Trade tensions between the US and China have given India an opportunity to ramp up exports to both countries."