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Now Indian Govt likely to hurt China’s economy, plans to import electronic items from these Asian countries

A boycott campaign stirred up in India following the deaths of 20 Indian soldiers in a clash with the Chinese troops in Ladakh’s Galwan valley on June 15. After the violent clash between India and China, tension has risen between India and China over the Line of Actual Control (LAC).

At least 20 Indian soldiers, including a colonel, were martyred in the “violent face-off” with Chinese troops. Following the violent clash, people have thronged the streets in India to protest against China over the clashes at LAC in Ladakh. They started shouting anti-China slogans and calling for a boycott of Chinese products across the nation.

In order to make India self-reliant, Indian Prime Minister Narendra Modi has urged the countrymen to promote swadeshi products and motivate others too in buying local products.

If the government really wants to curb imports from China, it may look towards other markets like Singapore, Malaysia, Taiwan and America for electronic goods. It is to be noted that Beijing is one of the biggest trading partners of India and it exports right from mobile phones to electronic items.

Mumbai World Trade Center said on Monday that China is the largest supplier of goods to India as it contributes 14% to our total merchandise imports. In the electronic sector, India is heavily dependent on Chinese suppliers. Specifically, India imported 98% of parts used in electronic integrated circuits and micro assemblies from China.

In the electronic sector, India is heavily dependent on Chinese suppliers. Electronic goods account for 32% of India’s overall imports from China. China meets 40% of India’s total imports of electronic goods, which includes consumer electronics, industrial electronics, computer and IT hardware, mobile phones, strategic electronics, light emitting diodes etc.  India imported Rs. 3.59 lakh crore worth of electronic commodities from the world during April-February 2019-20 and out of this, imports from China stood at Rs. 1.42 lakh crore or 40% of total imports.

In case India cuts down its imports from China for electronic goods, it can go with other top exporting countries. 

Ms. Rupa Naik, Senior Director, MVIRDC World Trade Center Mumbai said, “Between 2014 and 2020, India’s production of electronic goods has grown at an impressive CAGR of 20.6%, significantly higher than India’s nominal GDP growth of 11-12% during this period. There is tremendous potential for electronic manufacturing in India, given the progressive policy thrust and vast consumer market.”

Indian companies should also come out in support of the Indian government and they should also strengthen trade with other countries like Singapore, Malaysia, Taiwan and America to make India Atmanirbhar Bharat (self-reliant India).

Written by Dharam Sikarwar

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