India's reaction is very balanced and very well thought, banning their products, hurting their consumption in India will really hurt them, preparing our people to shun their products and replacing them with local variants will create more Jobs and prosperity, the current sentiment can be used to achieve this pending objective , the modi govt has again showed how you can turn a adversity into a opportunity. The Quad association (India , US , Japan , Aus) will further make them nervous, the member countries will follow India and ban their products as well.
China share in India imports up 5% points in April-July over last year, despite overall decline
Trade experts say India’s dependence on China for items like APIs for medicines will continue, but not-essentials like toys & plastics could be cut back.
REMYA NAIR 23 September, 2020 9:03 am IST
Container ships docked at China's Yangshan Deepwater Port, operated by Shanghai International Port Group Co. (representational image) | Photo: Qilai Shen | Bloomberg
New Delhi: Despite numerous calls to boycott Chinese goods in the aftermath of the Ladakh stand-off and the Galwan Valley clash, China’s share in India’s import basket has risen steadily in the current fiscal, led by imports of chemicals, electrical machinery and medical equipment.
China’s share in India’s total imports has gone up to 19 per cent in the April to July period of 2020-21, up from 14 per cent in the year-ago period.
Infographic: Ramandeep Kaur | ThePrint
Trade data from the Ministry of Commerce shows that the trend continued in July, as China’s share in India’s imports stood at 20 per cent, up from 15 per cent in the same month last year. After two months of lockdown, economic activity bounced back in July, raising demand for imports.
Overall, India’s total imports declined by 48 per cent in the April-July period compared to a year ago, but the decline in imports from China was much slower — the figure contracted by 29 per cent.
Infographic: Ramandeep Kaur | ThePrint
India’s exports to China have risen 31 per cent in the April-July period, with a total value of $7.3 billion. China’s share in the overall export basket has also increased by 4.5 percentage points to 9.7 per cent. All the figures are in comparison to the year-ago period.
Trade experts ThePrint spoke to pointed out that India’s dependence on China for items like active pharmaceutical ingredients for medicines and electrical equipment will continue in the near term, though India may be able to cut back on imports of non-essential items like toys and plastics.
Trade experts say India’s dependence on China for items like APIs for medicines will continue, but not-essentials like toys & plastics could be cut back.
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