New Delhi: The Indian government has embarked on an exercise to ban the import of Chinese goods to hurt China on the economic front. The government has already asked the Industry Associations and the Export Promotion Council for a list of Chinese imported goods to determine what we can easily produce in India. We can do that and banning those things will not hurt Indian manufacturers. As an alternative, it could be seen where important goods, especially raw materials, can be imported instead of China.
The government is also aware of the fact that there are many sectors like medicine, auto parts, mobiles and other electronics, chemicals where the production of finished goods is not possible without the supply of raw materials from China. India is dependent on China for 90 per cent of its pharmaceutical raw material (API). China relies on 70 per cent of India’s mobile phones.
A lot of raw materials are coming from China to make auto parts without which parts cannot be made. There are many cosmetic products that depend entirely on Chinese raw materials. According to exporters, their cost is low due to the availability of cheap raw materials from China and they are able to compete in the international market. Punjabi