The tensions between US and China is now impacting things on the ground – at both the sides. Farmers in US are getting challenged, so are the Chinese manufacturers/exporters of domestic products. The back and forth in terms of higher tariffs has continued and seems to be playing massive correction factors in the market.
There has been some talk about some of the manufacturing base shifting to India though at present this is only on paper. The effort to qualify a new supplier is significant and the supply chains from China were very well established.
As a consumer also, India can benefit from some of the discounted exports from China getting dumped into India as higher tariffs in US make it not viable. Again, here, the angst against Chinese imports is significant in India and reaches a peak during the festival period that is just around the corner.
It will take time to understand the gains, till then India can keep an open eye for the in-roads.