Lawstreet Journal

India Inc Warns against Cutting- Off Trade Ties with China

Lawstreet Journal 22 Jun 2020 10:40pm

Image courtesy: Lawstreet Journal Business India Inc Warns against Cutting- Off Trade Ties with China

The outcry for boycotting Chinese-made products rose to a crescendo after 20 Indian soldiers lost their lives on 15th June 2020 during a skirmish in a narrow, barren river valley in the newly formed union territory of Ladakh. 

As the call for a boycott of Chinese products continues to lead the way – social media charts, globally renowned trade analysts, veterans of Indian industry, and seasoned policymakers agree that export channel retaliation is easier said than done.

According to a trade economist and former Niti Aayog VC, Arvind Panagariya, the political push to use local goods has been attempted in many countries including the US, but without much impact. 

He stated, “People are smart and they know how to spend their money smartly.” Uday Kotak, the newly elected President of CII (Confederation of Indian Industry), said that the customer's choice of a product will continue to be influenced by his or her needs. 

Panagariya further added, “Each consumer has a choice. If a customer decided to buy online Instead of going to a mall or a shop, the consumer is making that choice. I do not believe that the government is asking or forcing people not to buy from China. If people of India take a call that this is a consumer product of quality that makes sense to them they are making that choice out of their free will.” 

While the Indian Government has not officially endorsed a boycott call for items manufactured in China, it has bundled a range of initiatives aimed at… Continue Reading...

Tagged: Chinese Products  
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