US-China tariff war opens golden opportunity for Aligarh's lock industry
Lucknow, Apr 28 (UNI) The ongoing US-China tariff war has created a golden opportunity for Aligarh, which is known for its lock industry, to further strengthen its position in the global market position, official sources said here on Monday.
Sources said that boosted by Uttar Pradesh Chief Minister Yogi Adityanath's pro-business policies, Aligarh, already a hub for locks, is rapidly strengthening its global market position. "According to Volza's export data, India leads the world in lock exports, surpassing China and Vietnam, with key markets in the UK, US and Australia," they said.
Sources said that as per data till April 17, India tops the world in lock hardware exports with 40,664 shipments. "It is followed by China (30,289 shipments) and Vietnam (4,836 shipments). From October 2023 to September 2024, India exported 3,578 shipments, showing a growth of 10 percent over the previous year," they said.
Sources said that China exports locks worth 1.19 billion dollars annually to the US, holding a 66 percent market share. "However, the US's 245 percent tariff on Chinese products has made them more expensive, creating an opportunity for Aligarh's lock industry to capture a larger share of the US market," they said.
Sources said, "The Yogi government has already taken steps, such as including Aligarh's hardware in the One District One Product (ODOP) scheme in 2018 and offering incentives to local entrepreneurs, to capitalise on this."
Sources said that Aligarh's leading lock company, Link Locks, has invested Rs 100 crore to capitalise on this opportunity. "This investment will benefit the entire lock industry and its stakeholders. The government's pro-business policies have boosted entrepreneurial confidence, positioning Aligarh to expand its share in the global lock market," they said.
Sources said that the US-China tariff war has created a significant opportunity for UP beyond the lock industry, opening doors for exports of household products like kitchenware, tableware, plastic items, lamps, hair clippers and firecrackers. "China currently holds a 72 percent share of the 148 billion dollars annual export market in these products, with India at just 2.9 percent. UP, home to the largest number of MSME units, is well-positioned to fill this gap," they said.
Sources said that the Yogi government's ODOP scheme is providing crucial support to local artisans and small entrepreneurs, strengthening both the local economy and Brand UP globally.
Sources said that the Defence Corridor in UP has opened new opportunities for Aligarh, with six nodes including Aligarh, Lucknow, Kanpur, Jhansi, Chitrakoot and Agra. "The Yogi government has invested Rs 122 crore to develop Aligarh's Defense Corridor, attracting Rs 3,300 crore in investment so far. This boost is not only advancing the defence sector, but also benefiting local industries, particularly Aligarh's hardware and lock industry, by driving technological progress and helping meet global standards," they said.
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