India equity benchmarks track Asian peers higher after US-Japan deal
However, the prevailing uncertainty over India-US interim trade deal ahead of President Donald Trump's August 1 deadline limited gains in the Indian market.
The Nifty 50 rose 0.22 per cent to 25,122.75 points and the BSE Sensex added 0.30 per cent to 82,430.50 as of 9:15am IST.
All the major sectoral indexes logged gains. The broader small-caps and mid-caps traded flat.
Japanese shares led the rally in Asian equities on Wednesday following the trade deal announcement. MSCI's broadest index for Asia-Pacific stocks outside Japan also advanced 0.7 per cent.
The prospects of an interim trade deal between India and the US before Washington's August 1 deadline have dimmed, with talks deadlocked over tariff cuts on key agricultural and dairy products, Reuters reported, citing two Indian government sources.
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Vietnam has always had specific local content requirements for manufacturers, Deng added, including that a maximum of 30% of the volume of raw materials originates from China, and the value after production in Vietnam must be 40% higher than the imported raw materials. "We've been struggling to meet all the standards so that we can still stay in the game,' Deng said. "But I guess that's the only way to survive now.' For most of Southeast Asia, reducing the amount of Chinese-made components in manufacturing will require a complete overhaul of their supply chains. Estimates from Eurasia Group show that Chinese components make up about 60% to 70% of exports from Southeast Asia - primarily industrial inputs that go into manufacturing assembly. About 15% of the region's exports now head to the US, up about four percentage points from 2018. 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