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.
Speaking at the valedictory of Shivarathreeshwara Shivayogi Jatra Mahotsava at Suttur, Nanjangud taluk in Mysuru district of Karnataka on Sunday, he said the East India Company which entered India for trade, ruled the country for hundreds of years.
Comments
DONT USE PATANJALI IT IS MADE FROM COW URINE & COWDUNG
jihadis are fuming and burning ... but we started using it in singapore and sales and response is very good ... for third rated anti natioinals pakistani and saudi products are awesome , hahahaha... jai sri ram ... hograppa nimma ummah chummah gang navaru hoge haaksi kondavranthe quebec nalli tithi maadi ,biryanni tinni .. hahaha .. innu illari antha adeno mantra idyalla ... hograppa heli hogi ...even 10% hindus use his products also turnover crosses 50,000 crores . papa dodanna , madrasa dalli econmincs heli kodalla , adu nin talege hogalla bidu .. hogappa ,nin hendru biryani maadavlanthe hotte biri tindu chambu ethkondu kere kade hogu L:))))
Dear baba namdev,
India not belong to your family India is a Republic country. Before open mount in front of public suggest to think twice on your meeting agenda.
Hope for your remaining self respect you OWN will be responsible.
Pathanjali is a shitty product.....no one should use it....
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