“The Times of India” quoted a report from the Indian think tank “Research and Information System for Developing Countries” on the 10th, saying that 327 kinds of “sensitive commodities” imported from China such as smartphones, telecommunications equipment, and solar panels can find alternative source countries. Or produced locally in India.
The report believes that if a certain category of goods imported from China account for 10% or the value of more than 50 million US dollars, it should be regarded as “sensitive goods”, “and should weaken China’s exports of such goods for strategic considerations. Monopoly”. However, the report also recognizes that China is the “only exporter” of certain Indian imports, such as important parts of automobiles and escalators.
The report said that since March this year, the Indian government has begun to seek alternative sources of imports from China through its overseas agencies. But many economists and traders believe that “may not be able to find a country that can provide such a large number of products in the short term.” The report of “Research and Information System for Developing Countries” also stated that due to China’s advantages in large-scale production in certain commodity fields, other competitors have almost no competitiveness.
Since the Sino-Indian border standoff, Indian media and industry organizations have conducted several rounds of “brainstorming” on “how to boycott Chinese goods.” According to a report by the Press Trust of India on the 9th, the Federation of Indian Traders recently launched a campaign called “China’s withdrawal from India” to further boycott the import of Chinese goods. Khandelwal, Secretary-General of the association, urged the Indian government to “comprehensively encircle China and its commercial activities in India.” He claimed that Chinese companies have invested heavily in Indian start-ups and “should require these start-ups to reject Chinese investment.” He also said that the government should continue to review investment from China for at least the next three years.
A previous report in India’s “Economic Times” stated that India should look for import substitution source countries in industries such as chemicals, auto parts, agricultural products, and raw materials, and strive to reduce its trade deficit with China to 8.4 billion by the 2022 fiscal year. Dollar. According to data released by the Statistics Department of India, India’s total imports of goods from China in fiscal year 2019 totaled approximately US$65.1 billion, exports totaled approximately US$16.6 billion and a trade deficit of approximately US$48.5 billion. India’s Deccan Herald’s report on the 10th also quoted official sources as saying that India will strengthen the localized production capacity of some commodities to cut costs and reduce its dependence on Chinese imports. Analysts said that whether or not the cost competitiveness of products imported from other countries works out to be comparable to Chinese products, it is in the field of raw materials that India will not be able to get rid of its absolute dependence on China within 3 to 5 years.