Ban Chinese Products May Hit India’s Trade in a Big Way
A new wave of anger has triggered the Indian blood against Chinese counterparts after the horrific attack on the troops. The Indian government has decided to put a halt on bilateral trade.
According to the Confederation of All India Traders, the team has decided to boycott 500 Chinese products including consumer durable, furnishing fabrics, fast-moving consumer goods, kitchen items, builder hardware, and many more.
The martyrs of these soldiers compelled the nation to take this firm decision.
China is exporting over 15.3% of its goods to Indian markets, whereas 5.1% of Indian products get shipped to China. Nevertheless, the latest data reveals that India accounts for 2.1% of Chinese trade in 2018.
Mr. Praveen Khandelwal has stated to some big media organizations that we have to reduce the import of Chinese products by $13 billion by December 2021. He has even requested celebrities like Ranbir Kapoor, Deepika Padukone, Aamir Khan, Virat Kohli, Ranveer Singh and many more to stop the endorsement of these Chinese products as they have to keep in mind the sentiments of Indian audiences.
Prime Minister Narendra Modi has expressed that Indians won’t let the sacrifice of these Indian troops go in vain. Meanwhile, the Indian boycott won’t hurt the Chinese market as it is the biggest trade partner of many countries where we hold a small portion of China’s export and import business.
The Chinese companies have increased their trading business in India from 21 to 48 for the past ten years. Nearly 223 Chinese companies have invested in India from 2003 to 2020. Well, Xiaomi and Huawei comprise the highest number of projects in India. On the other hand, Vivo and ZTE have five ongoing Indian projects.
Every year, almost 8 lakh Indian people visit China, whereas only 2.5 lakh Chinese visit our country. Amid COVID 19, the Indian economy has adversely affected, and boycotting Chinese goods would make a terrible situation rather than resolving it.
Some Chinese household products are:
- Kitchen Utensils: We use many cooking utensils regularly, and some equipment made in China. This Chinese kitchen equipment is made up of wood, steel, plastic, steel in the form of Spatulas, food strainers, woks and stir-frying pans, pasta molds, and stamps to prepare delicious food items.
2.Organic Chemicals: China has the largest manufacturing chemical units producing chemicals like Propylene, Ethylene, Styrene, Pure terephthalic acid (PTA), and other organic materials. However, India imports the US $23 billion organic chemicals from China.
3. Fertilizers: In 2009, China exported 2.4mn t urea to India, and this year, our country has maintained a similar trend by purchasing 207,000t Chinese urea.
4. Electrical equipment: India was the largest importer of Chinese electrical appliances. Last year, India imported US$19.97 billion electronic goods from China.
S Jaishankar, India’s External Affairs Minister has claimed that the border situation will handle in a more responsible way for a better future.