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.
Comments
What is stopping Sidda from going and meeting Parrikar? Wasn't it a congress resolution in Goa barring sharing of water with Karnataka? Who engineered the art of divide and rule, a legacy left over by the British? It was first Hindus vs Muslims and now division within Hindus for electoral gains? Wasn't Gujarat election a testimony of such a division?
BJP is only interested in spoiling the peace and creating law and order issue. They are doing it just to reap electoral benefit. People of Karnataka will give them thrashing in the coming Assembly election.
LOOKS wrong rumors been spread.... KARNATAKA CURRENT LEADERS SHIP ARE CLEAR what s needed for the PEOPLE OF NAMMA KARNATAKA... and will sure do... but looks game plan and WE PEOPLE SHOULD NOT DISTURB THE PEACE OF NAMMA NADU KARNATAKA
Shameless BJP. Why is Parrikar not writing to Tribunal ?? BJP is a party of double face with forked tongue. BJP is simply politicizing Mahadayi issue, they do not have Any Commitment towards Karnataka or Resolution of Issue. Shameless....
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