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New Delhi, June 27: The Prime Minister Narendra Modi-led union government of India is not ready to stop all imports from aggressive China in spite of mount calls to boycott Chinese products in India.

The Centre is reportedly considering to stop only non-essential imports from the neighbouring country.

However, the Inward shipment in sectors such as automobiles, pharmaceuticals, certain electronics and others will continue until a domestic alternative is found.

“India will gradually move towards import substitution. It will not happen overnight. In the meantime, attention has to be paid on production and job creation. We cannot throttle our industry. There are certain absolutely essential imports. Needless to say, those will keep going,” official sources said.

Sources said that both the government and the industry are in the process of identifying products that can be domestically manufactured in the medium term. There are certain chemicals, automotive components, handicrafts, cosmetics, agriculture items and certain consumer electronics, which can be manufactured domestically in the short to medium term. The government is doing all it can to raise the capacity of domestic industries.

However, there are certain other imports in the automobile and the pharmaceutical sectors which cannot be done away within the short to medium term. Their domestic production at the moment may not be that cost-effective.

The six-crore strong traders’ body CAIT has been at the forefront of such a demand and has launched a campaign to celebrate Indian Diwali this year with a total absence of Chinese goods.

“Ease of doing business, capital availability at lower rates and globally competitive logistics and energy costs are some of the prerequisites that the government should look into to ensure the growth of the domestic auto component industry,” according to Automotive Component Manufacturers Association of India (ACMA) Director General Vinnie Mehta.

Maruti Suzuki Chairman R C Bhargava said, “People who are boycotting Chinese goods have to remember that in some cases it may lead to their being asked to pay more for the same product."

Meanwhile, domestic rating agency Acuite Ratings & Research has analysed the current import portfolio from China and found 40 sub-sectors have the potential to lower their import dependency on China. These sectors contribute to $33.6 billion worth of imports from China and about 25% of these imports can be substituted by local manufacturing without any significant additional investments.

Mangaluru, Feb 28: Sleuths of Bajpe police station have busted a counterfeit currency racket and arrested two persons on charge of printing and circulating fake currency notes of Rs 500 and Rs 200.

The arrested have been identified as Dheerendra (45), a resident of Kanjilakody House in Bantwal taluk, and Sudheer Poojary (44), a resident of Adyar Volabail. Both of them said to be activists of Hindutva groups and had campaigned for BJP during last Lok Sabha polls.

Apart from counterfeit currencies, the cops have recovered a colour printer, two mobile phones and a motor bike from the accused.

According police, on February 23 the miscreants went to a petty shop owned by one Abdul Salam near Suralpady and purchased a Gillette blade costing Rs 20. They handed over Rs 200 currency note to Abdul Salam and took Rs 180 back from him.

However, the shop keeper grew suspicious about the genuineness of Rs 200 note. When he went in search of the duo, he came to know that they had purchased mustard seeds from a nearby provision store belonging to one Muhammad Arif. There too, they had handover Rs 200 fake note and got change.

The duo then took fake notes back from Abdul Salam and Muhammad Arif and escaped. The next day, Abdul Salam filed a complaint with Bajpe police station.