Currently, India’s imports from China are worth $76.2 billion, while India’s exports to the communist nation touched $33 billion in 2017-18
After China’s veto, questions have been raised about continuing trade with the Red Dragon. Currently, India’s imports from China are worth $76.2 billion (nearly Rs 53 lakh crore), while India’s exports to the communist nation touched $33 billion (Rs 22.8 lakh crore) in 2017-18.
“Trade relations between India and China are currently at their best,” said Dinesh Dubey, foreign affairs expert. “However, the balance is skewed heavily in favour of China to the ratio 70:30. Lately, there has been a lot of bonhomie between Prime Minister Narendra Modi and President Xi Jinping. The Chinese Premier had come to Ahmedabad earlier and both leaders met at least four times last year at various forums.”
“They also met in Wuhan recently where multi-million dollar deals were inked. However, what are we getting out of it and why are we bending to China?”
Praveen Khandelwal, secretary general of Confederation of All India Traders (CAIT), said the government must levy 300 to 500 per cent customs duty on Chinese goods to discourage their import. He informed that CAIT will rope in national organisations representing Transport, Consumers, Small Industries, Farmers, Hawkers in its campaign calling for the boycott of Chinese goods.
Meanwhile, a retired diplomat says China would have factored a diplomatic and trade cost while in blocking the resolution to blacklist Masood Azhar. “If China is not sensitive to matters concerning India, then why should India be sensitive to matters relating to China?” he asked.
Ashwani Mahajan, national convenor of Swadeshi Jagaran Manch (SJM) said the government should impose further restrictions, citing security concerns, on Chinese products especially telecom, electronics, defence equipment. “It is appreciable that the government has adopted several measures to curb Chinese imports by way of anti-dumping duties, countervailing duties, tariff hike and invoking reciprocity clause to stop Chinese companies taking infrastructure projects in India,” viewed Mahajan.
Mahajan says SJM research has revealed that the average tariff applied to Chinese imports was much lower than bound tariff rates on various commodities. “Therefore, some more efforts in the form of tariff rise are needed to discourage Chinese imports,” he said.
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