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
This MLA will become PM in Incredible India.
Anything is possible in India until People wake up and fight for their rights instead of religion.
Naren Thailand/Singapore comment is missing. May be busy with applying for bail for this terrorist.
wow what a frustration ...bachalis from one particular community here are shouting and screaming at modiji ... lakalakalaka... in two years itself they came to know their back stabbing third rated work wont work with BJP anymore and if at all modi becomes PM for second time .. they are gone for ever .we nationalist indians are intelligent enough to figur out who is bad and who is good .. so pinkaan muchi koorabekaagi vinanthi .. hahahaha jihadi gala pinkaan ge benki idi
KILL HIM AT THE SPOT.
PLEASE THINK ALL VOTERS BEFORE ELECTING SUCH STUPID LEADER.
Dear all..dont become Anti nationalist by disgracing such a great Desh bakth MrMakanwala......thus Bhakth says
Feku will release him as early as possible.....
NRI PM MODI ACCHE DIN ( GOOD DAY) FOR GUJRATH PEOPLE
Indians should beat themselves by footwear for electing these goons everywhere.
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