BORDER TENSIONS TO HIT INDUSTRYNews that an Indian Army officer and two soldiers were killed on Monday in a “violent face-off" with Chinese troops—the first in 45 years when both sides reported casualties—in Ladakh’s Galwan Valley is likely to have an impact on business though markets haven’t slid yet.
An escalation in border tensions and trade restrictions could push up domestic manufacturing, experts say. China is India’s largest trading partner—16% of India’s imports are from China—and a conflict would impact Indian manufacturers, who rely heavily on China for raw materials and semi-finished products.