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Last Updated:[04-11-2013 23:36:45 EDT] Zoom in Zoom out Back to Tradenews

India-China Projected to Beat the US in Infrastructure Trade

tradenews Surely, the dominance of the US in all matters of trade and industry is already being challenged by the EU, Asian economies like Japan, China and India, and other emergent third world countries. But it looks like the US is likely to lose significant ground in a core industry that is intimately connected to its economic dominance and history. According to the analysts at HSBC, India and China are likely to overtake the US by the end of this decade, as the lead importers of goods related to infrastructure projects.

HSBC predicts that by the year 2030, the gross global trade in infrastructure related goods and procedures will triple compared to the current numbers. This push will likely be promoted by countries that are seeking to increment their civil infrastructure and ramp up their manufacturing capabilities. The principal players in this scenario, who hold wide relevance in the coming decade, include China, India and Brazil.

The analysts at HSBC have advised world economies to take full advantage of this emergent possibility and scale up their internal infrastructure in the bargain. There are some serious numbers being talked here- infrastructure related trade will witness a significant spike in its global share, from the impressive 45% of the total goods export in 2013 to about 54% by 2013.

For economies that pulled through the recent economic depression, this news must come as very encouraging. While the global economies are predicted to suffer for a while longer, spending on infrastructure is projected to generate massive outputs. And in this promising scenario, Asian giants China and India, alongside their other continental neighbours are expected to lead the charge. Of course, when the civil infrastructure of these countries reach world beating standards, it is also likely to impact other key domains like tourism and investment, thereby directly impacting productivity and the quality of life in these countries.

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