India Has Chance to Draw Away China Supply Chains, Pompeo Says

(Bloomberg) -- Ongoing global tensions with China have presented India with an opportunity to draw global supply chains away from China, U.S. Secretary of State Michael Pompeo said.

“India is in this position because it has earned the trust of many nations including the United States,” Pompeo said at an online summit organized by the U.S.-India Business Council.

Pompeo’s remarks come at a time when worsening tensions between the U.S. and China are threatening global trade ties prompting companies and governments to seek to move resources out of the world’s second-largest economy to diversify supply chains. India is looking to establish itself as a regional manufacturing hub and attract companies seeking to move their supply chains out of China.

Referring to the border clashes between India and China, Pompeo said the U.S. has never been more supportive of India’s security.

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