Instantly we can not just boycott Chinese products but over time we can lower the business with Chinese govt.
India is the biggest importer of Chinese consumer goods. India imports almost seven times more from China than it exports to it. India has huge trade deficit with China. In 2018-19, India’s exports to China were only $16.7 billion, while imports were $70.3 billion, leaving a trade deficit of $53.6 billion.
It is clearly seen that China’s exports to India account for only 2% of its total exports, so even if Indians boycott all the goods imported from China, it will not make as big an impact on China. Data also suggests that China is India’s largest trading partner
The range of goods that we import from China is massive: consumer durable such as electronic goods, smartphones, industrial goods, vehicles, solar cells, and essential pharmaceutical products including tuberculosis and leprosy drugs and antibiotics, among many others.
In 2017-18, almost 60% of India’s import requirements of electrical and electronic equipment was met by China. In our smartphone industry, out of the five bestselling phone brands in India, four are Chinese – Xiaomi, Vivo, Realme and Oppo.
These four brands combined dominate over 60% of the smartphone market in India. On the other hand, 30% of India’s automobile components are met from China. So, basically our economy is dependent on China.
In my opinion, we just can’t simply ban Chinese products, it’ll require a long process. Our Indian government needs to implement many factories so that they can manufacture what we exactly need and also can import that of course at cheaper rate. If we can become the manufacturing hub then we can ban Chinese products.
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